DAX: Head and Shoulders picture
Updated
It looks like a head and shoulders to me on the 4H time frame, but always debatable.
Sentiment changed on this index many days ago, as seen in the 4H ATR line (on this time frame only).
This short setup is for true trend followers (not trend continuation). That means it is much higher risk to much higher reward ratios.
There are stop losses in trend following, but no predefined exit points. The markets decide the exit.
As usual you take your own risk and your own losses.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Sentiment changed on this index many days ago, as seen in the 4H ATR line (on this time frame only).
This short setup is for true trend followers (not trend continuation). That means it is much higher risk to much higher reward ratios.
There are stop losses in trend following, but no predefined exit points. The markets decide the exit.
As usual you take your own risk and your own losses.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Note
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