DAX: Bearish Bat Pattern, SHS (with a little top)

We have formed a bearish bat pattern (not a perfect one) in June. In the beginning of July we have started to build a SHS pattern, which we just completed by breaking the neckline.

If we do not manage to reconquer the dotted upward trendline: Short with targets around 12.300.

Good luck!

Trade active

Comment:

The US closing and the Asia session was bullish (+200 handles). If we break above the right shoulder, this trade becomes invalid and I would have to close it.

Comment:

We are back to yesterdays lows. Which is crucial, if we see new lows, we have a good chance to hit our initial target.

Comment:

We have just tested the second level support of the uptrend and we moved below.

Comment:

You might ask yourself why my first TP I is 12300. It is the PP in the daily and bulls have the chance to confirm the breakout:

Comment:

Comment:

I cash in 50% of the position. Gut decision. Move SL to BE.

Trade closed manually:

I mark the position as closed even I have closed just 50% of the position and the rest is on BE. Good luck.

Comment:

The good old gut; anyway, next week we will have other opportunities.