So far this is a very smooth bullish ABCD pattern playing down to the 161.8% level, If level is reached this will allow a long position to be entered if the bullish price action required is provided. So from the area of 0.4926 it ill allow us to go long until around 0.5339 which is a gain of around 400 pips.
If Ger 30 manages to reach another high of around 11149 area, it will complete a bearish ABCD pattern which will then allow a short position to be entered if the relevant bearish price action is provided. This short will give the opportunity to gain around 1700 pips.
Bearish ABCD potential if the CD leg plays out to 161.8%
Waiting on CD leg to complete for a bearish ABCD retracement to 61.8 Fib level
Bearish ABCD Gartley pattern formed with the BC leg touching 61.8 Fib retracement level and the CD leg touching the 161.8 Fib level which indicates a retracement to Fib level 61.8.
Bounce off support due to double bottom on 4h TF and 1H TF. Strong support line. Down trend which has hit the 76.4% and 61.8% Fib levels so far.