A possible bullish butterfly could be in forming in the DAX or GER30, which could give some buying opportunity around 0.786 - 0-886 Fib levels which is marked as D in the chart. Targets could be around the 38.2 and 61.8 retracement of CD leg. This all could happen provided right price action at point D.
Just an educated guess which could help you in making better decision before taking trade. Please do your own analysis.
Just an educated guess which could help you in making better decision before taking trade. Please do your own analysis.
Note
Moving close to the point D. Nice one rytNote
Note
The price action at the point D was not good at all for going long, but the led D got extended I believe and price action was bullish at that point. Just posting a chart what i am talking aboutNote
First target done at fib 38.2 level of the recent down moveTrade closed: target reached
Both the Targets done. Cheers guys :)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.