lesliestevensj
Short

GER30 Short; 9-June-2015

FX:GER30   DAX Index
37 0 1
Market Bias on monthly and weekly TF is bearish and as such this will be the flow in which we trade on the lower TFs (daily, H4, H1). Price is currently meandering between a channel and has currently dropped to the base of the channel completely the C-D leg ( AB=CD pattern complete). Price action is likely to move of the base of channel which is also in confluence with -27% fib extension back to the previous B leg (or possibly back to newly formed daily supply) before shooting back down to form a new Lower Low. Upon confirmation of price action following rally we will sell down to WK demand zone
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