DAX 30 Bearish CYPHER PATTERN @ 10014

FX:GER30   DAX Index
Hi guys,

This is my first post regarding any indices or stocks as I was performing some back-testing of pattern formations on them.

This is a bearish CYPHER pattern @ 10014 and stop loss will be placed above the X leg which we use as good resistance in this case. Targets will be at the 38.2% and 61.8% retracement levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.

Thank you for your support.

Trade Numbers:

Risk: 97 points x 2 = 194 points
Reward #1: 97 points. R:R = 1:1
Reward #2: 156 points. R:R = 1:1.6

Plan your trade... Trade your plan.
Trade closed: target reached: BOTH TARGETS HIT! TOTAL PROFIT ON TRADE= +253 POINTS
I'm also waiting for the short! Great post.
+1 Reply
Krunal.Patel hao.deng.m
Thanks! I really appreciate that. Good Luck! :-)
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