GER30 Daily Bullish Shark/ Bat Pattern
As per my previous post on the DAX, there was a bearish butterfly around 12300, now the targets for the bearish butterfly have evolved into 2x bullish patterns
As shown there is a bullish Shark and Bullish Bat pattern both indicating a possible short term long; if these patterns do rally the market then I would expect some resistance around 11850 - 12000 in the form of a bearish 5.0 pattern
I might play this long side for a short term long and then look to add to my existing position short trade around the 50-61.8% retracement of the recent decline!
Playing both sides of the market being long and short simultaneously - see how we go...
Cheers!
Dion
As per my previous post on the DAX, there was a bearish butterfly around 12300, now the targets for the bearish butterfly have evolved into 2x bullish patterns
As shown there is a bullish Shark and Bullish Bat pattern both indicating a possible short term long; if these patterns do rally the market then I would expect some resistance around 11850 - 12000 in the form of a bearish 5.0 pattern
I might play this long side for a short term long and then look to add to my existing position short trade around the 50-61.8% retracement of the recent decline!
Playing both sides of the market being long and short simultaneously - see how we go...
Cheers!
Dion
