Akil_Stokes
Short

GER30: Bearish Cypher Pattern

FX:GER30   DAX index of German listed shares
A Potential Bearish Cypher Pattern on the GER30            
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Hi,

Tell me what do you think about the Dax with these new moves...
Thanks
Oliver
Reply
For a trader looking to get short, this will be the lowest risk opportunity one can get
Reply
If I don't have a chance to record a video this weekend I'll see if I can talk about it during Monday's webinar, but it looks like at least a 1:5 risk reward at it's current location
Reply
Oliver Akil_Stokes
Don't you think that the DAX just made a simple FIB retracement ? and from now will continue his journey...
Reply
Oliver Oliver
Please look in my profile for the chart with the FIB on...
Let me know what do you think.
Oliver
Reply
that can certainly be the case, but there's not enough there (for me) to have any buying interest and with the bearish rotation, i like my risk reward a lot better going bearish
Reply
Oh yes..!! time to add to short...
+1 Reply
Akil_Stokes PRO dionvuletich
Nice! did you first get involved at our previous structure around 11700's?
Reply
dionvuletich Akil_Stokes
Yes I think my first short was around 11,710ish from memory but based on longer term charts, I suspect the Dax may not get as high as the Cypher pattern as there is also a Shark going into a bearish Carney 5.0 pattern between 11,800 - 12,000 if you consider the 04/03 as the starting X point
+1 Reply
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