1. I will open buy if the price will make a pullback to 2860
Because there is a huge chance that it will happen
The goal will be before historical high 2942
2. Near 2942 I will open Sell if there will be a fake broke
Mostly price bounce 1st time from such powerful levels
In that situation potential profit could be in 10 - 20 times bigger than a risk
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We had some nice price action today as you are probably aware of, we closed above previous structure high and above the purple pitchfork trendline which now acts as support. I have drawn another pitchfork in the chart and tried making it a bit clear for you. Once the red meridian line of the smaller pitchfork is broken price could potentially see price...
Since February, GER30 has tried to cross the demand zone, however after multiple attempts, we haven't seen a major correction, just a series of up's and downs.
This time, it has aggressively went down almost touching the demand zone but it is now approaching another important support line which has been in a bullish tendency since November 2013.