Hey Guys,
So with the Ger30 there is some need for correction. The 4hr had a bearish impulse from 13520 area all the way to where it is now 12760, the market is due for some correction. Impulse, correction/pullback, trade....market moves this way most times.
Also note Ger30 has a gap down from 12920- 12880 from Asian session Thursday night that has yet to fill. If you look at the history (recent) Ger30 always fills gaps within 2/3 days. Also note us30 had a gap as well that has already been filled. Ger30 market closes early on Friday. The gaps are getting smaller, previous gap was 100 units/1000pips, and before that 60units/600 pips. I think the decrease in gap pip count is also a thing to take note of. There is potentially more bear movement.
Risky Ss (before correction) - definitely look at minor structure for confirmation
SS Entry - 12700
TP - 12550
SL- 12750
GAP fill & correction bear entry
Entry - 12790
TP1 - 12900
Tp2 - 13000
Tp3 - 13150
SL - 12730
chart patterns, trendlines, highs & lows, back testing, support/resistance/structure, emas
So with the Ger30 there is some need for correction. The 4hr had a bearish impulse from 13520 area all the way to where it is now 12760, the market is due for some correction. Impulse, correction/pullback, trade....market moves this way most times.
Also note Ger30 has a gap down from 12920- 12880 from Asian session Thursday night that has yet to fill. If you look at the history (recent) Ger30 always fills gaps within 2/3 days. Also note us30 had a gap as well that has already been filled. Ger30 market closes early on Friday. The gaps are getting smaller, previous gap was 100 units/1000pips, and before that 60units/600 pips. I think the decrease in gap pip count is also a thing to take note of. There is potentially more bear movement.
Risky Ss (before correction) - definitely look at minor structure for confirmation
SS Entry - 12700
TP - 12550
SL- 12750
GAP fill & correction bear entry
Entry - 12790
TP1 - 12900
Tp2 - 13000
Tp3 - 13150
SL - 12730
chart patterns, trendlines, highs & lows, back testing, support/resistance/structure, emas