As per my previous post on the DAX , there was a around 12300, now the targets for the have evolved into 2x patterns
As shown there is a and pattern both indicating a possible short term long; if these patterns do rally the market then I would expect some resistance around 11850 - 12000 in the form of a pattern
I might play this long side for a short term long and then look to add to my existing position short trade around the 50-61.8% retracement of the recent decline!
Playing both sides of the market being long and short simultaneously - see how we go...
Lesson learnt: if you had traded it as a classic cypher with a stop at the 113% somewhere around 11000 you would have had a winner!
harry hindsight talking...=)
You posted this yesterday morning, I did not answer because I was waiting to see what has happened , prices have touched yesterday at close and today at the open the price, and this is what I am talking about, you worked hard all the way long, then it is justifiable to expect today's outcome.
Anyway, well done and keep on that way.
Well done, good job and good research!
But I'd argue two aspects, first for now there are few things that completely assure the bottom is reached, in that concern 10920 is easy to reach;
secondly in any of both scenarios, the upside objective is low, should be at least 12188, the bottom of the highest point and the previous top of the most recent up trend.
Again, very good job, keep on that way and please, be aware of the risk reward, I mean look for the extremes, otherwise you will buy expensive and sell cheap, too little reward for your hard job.