dionvuletich
Long

GER30 Daily Bullish Shark/ Bat Pattern

FX:GER30   The DAX Index
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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...

Dheers!
Dion
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