GER30 Daily Bullish Shark/ Bat Pattern

FX:GER30   DAX Index
279 11 4
GER30             Daily Bullish Shark/ Bat Pattern

As per my previous post on the DAX             , there was a bearish butterfly around 12300, now the targets for the bearish butterfly have evolved into 2x bullish patterns

As shown there is a bullish Shark and Bullish Bat 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 bearish 5.0 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...

Nice buddy ... You killed it :)
PInged out by 9 points prior to rallying to target, did not actually trade this one - one of those frustrating just-stop-you-out type trades

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...=)
juanclos dionvuletich
You know, something I learned through time is that if you work that hard and also keep looking at each step in the process, not letting things as given for grant, you can expect to reach the original goal although in the way there are some set backs.

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.

+1 Reply
Thank you for your kind comments
+1 Reply
Risk and Reward is one of the most important part of trading, it is worthless our job if we do not care about the topic.
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.
Sorry I think I missed something in your comment - what's wrong with this R:R?

it's showing a 3.5:1 Reward to risk to final target.. which is enough for me
dionvuletich dionvuletich
and it's backing onto an earlier post of mine showing a R;R of 4:1 here:
juanclos dionvuletich
11172 is the SL? If it is the case sorry, didn't understand that, I thought it was just another point, didn't catch that idea; in that case I repeat, great great job!
+1 Reply
juanclos juanclos
Furthermore, I just placed a Bullish position in the majors , another time frame and analysis but at the end we both finished with the same trend.
+1 Reply
Yes that is correct 11173 the red horizontal shaded zones are the sl tp levels
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