Germany30
Short deals for GER30GER30 closed below uptrend line. After that we could start searching for the entry price. Bollinger Band expension gave a good signal for opening short trades. When price closed out of Bollinger Bands, the low of the day was the place where open orders should be placed. Stop Level above MA20 and Profit Level between 8700 and 8900. MACD (H) and DMI confirm short trades.
Exciting Day(s) Ahead !!! - Price has been trading in the range. just below 1000 mark for few days.
Previous 3 attempts have been rejected categorically. (2spikes)
Bears have not yet made a lower low. ( HH, HC) - Marked in blue.
With Month End approaching and number of News lined up, the we may see a clearer picture soon.
IF price breaks and closes above 10000 mark, it will look to touch 10400 level.
IF price fails to make a bullish high, it could continue on with the trading range play for longer.
Will keep an eye for setups in lower time-frame on this one.
An Attempt to Decipher Ger30I do not know what will eventually happen,But until then, staying the OODA Loop I've tried to take pulse of the chart.
The bullish intentions have been made clear. Lets see which setups plays out eventually.
Would have been stronger if this close was above the large red candle on left. (off by some 40pips)
Hence this keeps the options of deep retrace very likely.
Especially for next leg up to Bollinger mid.(34 MA) which may meet price at the 10000 by then.
This down move likely to be to
- Retest of trendline break
- Retest of MA's 10
- 30-50% retrace of last 3 bulls weeks
- Test yellow resistance turned support zone.