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Classical_patterns

1-2-3 Set Up in Dax Daily - Bearish move on a horizon?Simple observation - most recent consolidation from end of Aug till now resembles a classic flag pattern (at least to me). Recent Friday close broke below the flag boundry - continuation??? Further market hesitated at SELL ZONE that I marked in red rectangle 1-2-3 SET UP Simple classic set up that has many variations - here is the simplest one that I know. Mid August high to 22/08 low is Swing 1. Swing 1 got retraced by Swing 2 that did not exceed Swing 1before turning back down. 22/08 low is now in play - if price breaks below it may signal trend reversal based on 1-2-3 set up. As always - happy trading! DISCLAIMER: Trading is a risky business and there is possibility of losing all your trading capital and more. This post is not an advice or an instruction to trade and does not gurantee profitable outcome. This is for informatoin purpose ONLY. Choice to act on this information is your own and hence responsability for outcome of that choice is also your own. I am not liable for any adverse outcomes. Update status
FX:GER30Short
by ggekkotrader
AUDCHF TriangleI posted an idea on this pair previously with the same shape. The pair has finally started to form closer to a possibility of a stronger Aussie to the Swiss. Friday's and this past week's action seemed to show some strength, as it was pushed down, but recovered. We have been making higher lows over the course of the last few months. My stoploss will be set using Brandt's LDR, so it's to be determined. My sizing on this trade will also be determined by my stop. I'll risk 50-100 BP based on the strength of the action near my entry. Units: TBD, based on 50-100 BP risk Entry: 0.7610 SL: TBD on Last Day Rule TP #1: 0.8176 TP #2: 0.8806 Good luck and as always, this trade is a possibility, not a probability!
Long
by QuesHeretic