Perfect reversal from the PRZ - next potential sell zone is..

FX:GER30   The DAX Index
In the previous time I covered GER30             it was heading towards the completion of a bearish Bat pattern (see linked idea).
We had two sell zones - 11,000 (structure and 200 SMA line) and 11,400 ( Bat pattern completion.
The anticipation that Draghi will fire his Bazooka pushed GER30             beyond the 200 SMA line and the strong resistance zone of 11,000 and it completed the Bat pattern just before the ECB press conference.

On last Thursday, the day of the ECB, GER30             rallied 1% to create a Kiss of Death setup just before it crashed into First target zone

Now, as the price is again below the 200 SMA line and below 11,000 (also below it's downtrend line), I expect continuation lower towards secondary target zone near 10,200.

In the chart you can see potential R/R

*Due to the coming FOMC meeting, I expect higher volatility from stock markets indices.

Tomer, The MarketZone
Follow me on TradingView
Subscribe to my newsletters -
Follow my blog -
Subscribe to my Youtube channel -
Comment: Correction - My latest TradingView analysis didn't include the Bat pattern. The Bat pattern was mentioned in my weekly newsletter last week
Comment: Sell zone includes:
Downtrend line
61.8 Fib level
Broken trading channel bottom
As 11000 was support which was again broken down is it safe to enter shorts targeting 10200??
themarketzone PRO hearthack3r.billi
If it'll reach 11,00, I would look for intra-day reversal inside the sell zone. Understand that the markets are still trying to figure out what the Fed will do on December and how they will react to the Fed actions. The market can rally all the way back up.. you can't tell.
11,000 is the technical sell zone and 11,200 is the zone's top, but notice where you're stop loss should be.
If you accept the potential risk, technically I really like this setup.
hearthack3r.billi themarketzone
Thanks ...
English (UK)
English (IN)
Bahasa Indonesia
Bahasa Melayu
Tiếng Việt
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out