FxWirePro: DAX30 forms shooting star in the four hour chart, good to sell on rallies
Candlestick pattern formed – Shooting star Potential Reversal Zone (PRZ) - 12170 The index has formed a minor bottom around 11726 and jumped sharply till 12101 at the time of writing. DAX30 is trading around 12051 0.18% …
The index has formed a minor bottom around 11726 and jumped sharply till 12101 at the time of writing. DAX30 is trading around 12051 0.18% lower.
DAX30 formed shooting star pattern in the four hour chart and upside is capped by 161.8% fibo. Any violation above 12170 (161.8% retracement of 11892 and 11463) will take the index till 12236 (161.8% retracement of 12033 and 11726).
On the lower side, minor support formed at 11726 will be acting as near term support and any break below will targets 11465/11400.
It is good to sell on rallies around 12065-75 with SL around 12170 for the TP of 11725/11465.
