Today I want to show you my personal thinking ... and trading behaviour for the next weeks in GER30 chart.
Since January 2019 we are in a major uptrend, and there are no signs this will end so far. But, we can make some short trades for quick opportunities.
We were not able to cross the 12600 mark, and did a significant bounce back. Now we are struggeling towards our 2 basic .
As you can see in graph we had a SMA50/20 cross 3 days ago, and playing now in the 50% Fib Retracement Level. Thats okay.
My oppionion is, we will get a bit more down before following uptrend again.
Depending on how quick going down, we got a target for short position between 12300 and 12250. I will play with moving SL here.
If we cross 12460 again its a clear sign that downtrend ended up earlier and we can set our SL here.
Our RRR is a bit higher than 1. Enough for me.
!! Mention: This is my personal opinion, no trading advice. Its your money, your trade, your risk and your responsibility.
Feel free to contact me private for further details or just chatting. Regards