DAX(H4). Preparing for another Leg down ?

FX:GER30   DAX Index
653 12 4
(Sorry For the misplaced zoomed View)
Broken 10/2/2015 Uptrend_Line and retested the line from beneath, 50 sma .

Found support on 50 Daily sma , 200 H4, and bounced, within potential Channel.
Daily RSI and MACD bearish divergence.

Breaking the horizontal support, targets AB=CD , triangle measured target, uptrend_Line.
Possibility for right Shoulder formation.
well done dude!
I think that the down trend is well spotted, but the set up of the trade is terribly managed, first price is to retest 12090, then is likely to the highest point, 12218, that's so close to you SL, and there are some probabilities of retest 12312, if that price is overcome, new highs are under way; but I think the overall new trend is fine, if so, the objective is quite ambitious, I would look for 11500 first, then wait and see.
rv juanclos
if terrible, i will try to make it better next time, thanks for the tip and comment.

You can not make anything if you do not know how to do it; if you don't mind I will show you the basic idea, afterwards you can manage your own style of set ups.
In this chart I am showing two green levels, the lower is the extreme of the previous up trend, the second is a rectangle where there has been a lot of activity in the past, both offer reference points, the first an idea, the second a real top or bottom as many times that number has been a reference to set SL or TP levels, therefore those are the most likely places to start new trades and set SL or TP.
With experience you can draw them narrow, start by making them wide.
The downward channel is the reference and objective range in the future, the same idea, previous tops will become future support at some point.
Nonetheless, the new trend is well spotted, always minimise your loses, do not let big SL, because they will diminish your account and more important your job, you work a lot looking for these trades to let them whip you out, if you are accurate you can set small losses and take big profits, you have the eye to see prior the new trend, keep it by managing your emotions (emotions are driven by the SL or TP).
Enjoy your day.
rv juanclos
thank you very much for that, appreciated. You too !
rv rv
I will give you one advice, though, start making those beautiful ideas, practice in your published charts, so you can help everyone else as well. :)
Do you think that what I know is useful?
rv juanclos
yes, i do. I am just encouraging you to apply the above ideas, ( for example the SL and TP as you described ), which i found very interesting. Only by practicing what you know(i.e. idea), you can improve upon them. Just my 2 cents. thanks for your comments, and keep them coming.
Moreover, in Stocktwits (@juanclos) and Twitter (@juanclos88) I post ideas.
disagree with you ! I think the pass of less resistance is now up ! We might even see a retest of the12000 ish mark today !
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