Hie Akil, i think its too early to sell GER30, best place to sell around 1198, thats my own view. There is a recent strong bullish momentum and I doubt very much if these buyers would let sellers do their thing here. If i sell here i will definitely take profit at 38.2%.
In my opinion if the pattern is valid you've got to take it. It's the only way to keep consistency and achieve the expectancy number that the backtesing gave you. If you're not a pattern trader and you think price would go higher, I wouldn't even consider getting involved in anyway as you'll probably be second guessing yourself the entire time.