GER30 Navigating the Next Move A Beginner’s Guide and Key LevelsTrade Plan.
What’s Happening Now
The price reached a high near 20,360, completing a big upward move (wave 5).
There are signs the market is slowing down and could drop to "correct" itself before the next big move.
Where the Market Might Go?
First Support Level Around 18,814 – This is where the price might bounce (go back up).
Deeper Support Level Around 17,944 – If the first level doesn’t hold, this is the next likely area for the price to stop falling.
Where It Might Struggle to Go Higher???
Resistance Level 1 Around 20,360 – The recent high where sellers might step in again.
Resistance Level 2:Around 20,530 – A key level above the previous high.
How to Trade This.....
If You’re Looking to Sell (Short Trade)
Watch for price to fail near 20,360 or 20,530. If the price shows weakness, you could sell, aiming for support at 18,814 or 17,944.
If You’re Looking to Buy (Long Trade)
Wait for the price to drop to 18,814 or 17,944.
Look for signs of the market turning back up, like strong green candles or breaking above resistance at 18,928.
Your target could be the recent high (20,360) or higher (20,530).
Key Things to Remember!!!!!!!!!!!!!!!!!!!
Support Zones: These are areas where the price might stop falling and go up: 18,814, 17,944.
Resistance Zones: These are areas where the price might stop rising and go down: 20,360, 20,530.
Risk Management: Always use a stop-loss to protect your account. For example:
If you’re buying at 18,814, place your stop-loss below 17,944.
If you’re selling at 20,360, place your stop-loss above 20,530.
