FX:GER30   DAX index of German listed shares
357 8 1
10 months ago
SL 8600
since it is aggressive counter trend, I will quickly take partial profit after 1R is reached and tighten SL to BE
9 months ago
Comment: SL to BE @9033, after over 250 pips no reason to let it become a losing trade,
will take half profit on 1R @9433
9 months ago
Comment: take half profit now @9443
9 months ago
Comment: now 9640, tighten rest SL to 9433 so the worst outcome is now a 1R profit trade
9 months ago
Comment: nice, 9983 now, move SL to 9640
9 months ago
Comment: SL @9640 reached, Trade closed
9 months ago
Trade closed: stop reached
BaliShag PRO
10 months ago
Agree. But I have to question your XABCD pattern since it isn't an official one. What's the point?
Reply
Bankster BaliShag
10 months ago
I use it for a better view of fibo retracements, you can use fibo instead, everything that works is ok. The potential D point is now on -30% from ATH, 1.27 fibo from B to C. The price action is also supportive which is more important for me. We closed Friday at daily high with HH and HL after hammer pinbar, so according to my plan, I have to enter a long trade
Reply
BaliShag PRO Bankster
10 months ago
Ah okay. Thanks for your reply. On a harmonic sidenote.. You mention the 1.272 extension of the BC leg. The retracement of that leg formed a bullish Gartley on the way down that failed mid january. I do very often see failed Gartleys turn on the 1.272 extension of the XA leg instead. Haven't done the statistics my self, but I know of harmonic traders that even gave this "pattern" a name: Garfly. Not that important, but for me it adds a bit of confluence.

I haven't done my weekly analysis yet, but I can add a bat pattern, the 5 wave structure in the CD leg and a median line to your area for confluence.

Best of luck!

snapshot
Reply
Bankster BaliShag
10 months ago
835x is indeed another confluence zone, but there is no right or wrong, price could reverse right now and go up for months. We don't know that the right side of the chart will be look like, that's why protecting your chips is sooo important ;) I will reenter if price reach that level and PA justifies a long entry. But for now, I have to trade what I see.
snapshot
Reply
manish_damani
10 months ago
I am expecting the same. Are you sure it will give nice rally and cross 9150 soon by tomorrow.
Reply
Bankster manish_damani
10 months ago
the only thing I'm sure in trading is that I will loose money :)
Reply
UsmanButt Bankster
10 months ago
Hi
I am not experienced .
But mr bankster look good in his work
Reply
UsmanButt
10 months ago
At what point we should buy ? Please help
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out