FxWirPro: DAX30 forms Bullish Cypher pattern, good to buy on dips
Harmonic pattern formed – Bullish Cypher pattern Potential reversal Zone (PRZ) - 11719. DAX30 forms potential cypher pattern in the four hour chart. The index has shown a slight decline after showing a jump till 12180. O…
DAX30 forms potential cypher pattern in the four hour chart. The index has shown a slight decline after showing a jump till 12180.
On the lower side, potential reversal zone is around 11719 and any break below will drag the index down till 11463 (Feb 7th 2017 low)/11357 (38.2% retracement of 10025 and 12180).
The index major top is around 12180 and any break above will take the index till 12378 (161.8% retracement of 12180 and 11849).
Minor bullish invalidation only below 11400.
It is good to buy on dips around 11800 with SL around 11700 for the TP of 12180/12350.
