Shorts into the potential buys
Hello traders,
A potential ''simple'' play is shaping up on GER40.
It doesn't mean when PA tapped into a new ATH and sells of, its meant to be the top.
However, PA made a huge inpulse and right now it's forming its larger correction before the potential next leg to the upside.
PA is forming an expanding right now.
- Weekly bullish pinbar close (still bullish but positioned well)
- Daily retraced quite well (engulfing --> evening star formation)
- 4H is clear (impulsive move)
-1H --> entry plan: looking for a clear 3-touch continuation into the previous ''marked'' lows that has been broken.
Targeting the first point of inflection at minimum with a potential to the value area.
I've used the fibonacci as a guidance, never as a confluence factor.
However, it's healthy to give a .50 pullback after such rally
A potential ''simple'' play is shaping up on GER40.
It doesn't mean when PA tapped into a new ATH and sells of, its meant to be the top.
However, PA made a huge inpulse and right now it's forming its larger correction before the potential next leg to the upside.
PA is forming an expanding right now.
- Weekly bullish pinbar close (still bullish but positioned well)
- Daily retraced quite well (engulfing --> evening star formation)
- 4H is clear (impulsive move)
-1H --> entry plan: looking for a clear 3-touch continuation into the previous ''marked'' lows that has been broken.
Targeting the first point of inflection at minimum with a potential to the value area.
I've used the fibonacci as a guidance, never as a confluence factor.
However, it's healthy to give a .50 pullback after such rally
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.