GER30: Low Risk Short Into Previous Structure Support

FX:GER30   DAX Index
I wanted to hold this for my webinar with Tradingview today, but it looks like we're already starting to move so I'll give it a share as well. By the way if you haven't registered here's the link http://blog.tradingview.com/?p=1083

Live Room members, if you remember last week we talked a lot about waiting for opportunities where the risk reward is heavily in our favor, especially if we want to take an aggressive approach. Well on Friday we came right into previous structure support which should now act as resistance on the Ger30             . Conservative traders I would key in on this level and wait for a double top for a more conservative approach.

No tricks to this trade just LOOK LEFT as structure will leave clues. Although we're in a heavy bullish trend on the HTFs, we have seen some relief as of late. I'm not sure how long this relief will last but for the bears there is a lot of continued opportunity to the downside.

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@Akil - great entry! how do you feel about increasing the position around 61.8 fib lvl (~11525)?
I personally would see no benefit in doing so, but also keep in mind that I'm not a true trend continuation trader. But in genera;l i never want to open myself up to any extra risk, I'm all about avoiding it.
andrewcbr Akil_Stokes
Thx for the reply and thank you for the yestarday webinar session, was great!
+2 Reply
No problem, i'm glad you enjoyed it. Wish i had more than an hour to do some real teaching but oh well
+1 Reply
Oliver Akil_Stokes
Do you have a record of the webinar please ?
I was kicked out every time i tried to join...
+1 Reply
jimmy_hongkong Akil_Stokes
Akil, many people think that there is support at 11400 and 11200. However, I think that the main support is at 11990 level, then there will be a strong rebound, What do you think?
Akil_Stokes jimmy_hongkong
12000 and 11200 both look to be pretty good levels of structure. I would say 11400 would be a minor level
Very nice once again :-)
Wow , perfected trade set up.
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