Fibonacci Extension: The current rally has hit the 1.272 extension of the previous correction. The next major resistance aligns with the 1.414 extension at 23,350. Harmonic Pattern: A Bearish Butterfly Pattern is nearing completion. The Potential Reversal Zone (PRZ) is calculated between 23,320 and 23,350.
🛡️ Support and Resistance Levels
Resistance 1: 23,320 (Harmonic PRZ) Resistance 2: 23,400 (Psychological Round Number) Support 1: 23,220 (Previous High / Support Flip) Support 2: 23,150 (0.382 Fib Retracement)
🎯 Strategic Trade Setups
Scenario A: The Reversal (Short) Valid if price rejects the 23,320 zone with a bearish pin bar. Entry: Below 23,280 Target 1: 23,220 Target 2: 23,150 Stop Loss: 23,360
Scenario B: Breakout Continuation (Long) If price closes above 23,350 on strong volume. Entry: Retest of 23,350 Target: 23,450 Stop Loss: 23,300
GER30 I am awaiting price to touch the daily TL to see how it reacts. Potential sell from there if it holds. Also, in line with the upper border of the 30 min upward channel
GER40 📐 Fibonacci & Harmonic Patterns
