GER30 H1 - Butterfly, ABCD and 61.8% fibo - short?
I think there is short opportunity on DAX (GER30), because
Edit :
Actually I did not play this, but valuable lesson was there should be always plan B. And plan B could be simple - after trendchannel breakout wait for pullback, take postition (why wait for pullback? to define short stoploss)
- there is AB=CD
- ABCD ends at 61.8% of fibo - statistically correction end at 50-61.8%
- downtrend channel - we are on top on this
- butterfly waits for its D point :)))
Edit :
Actually I did not play this, but valuable lesson was there should be always plan B. And plan B could be simple - after trendchannel breakout wait for pullback, take postition (why wait for pullback? to define short stoploss)