During the last months we see a downtrend in this index GER30 and now a possible Pull Back!!
What about Fib retracement. We can see that there is a retracement made back to the 38% and now moving down again.
Technicaly could be our next goal the 127% line as possible profit target.
What is your opinion? - Short on the break?
According Fibonacci, this is correct and I also hope to this move.
But you have to be careful of two things.
1. Germany will try to avoid a price action lower than the area 9000-9300. So it can be very choppy over there.
2. The GER30 and the EURUSD are very correlated. This means that if the GER30 goes down, the EURUSD has to go up (vice versa). Checking the dollar index and a possible new move downwards, it is possible.
Start with a small lot size and add when it goes in your favour.