GER30 Short Idea

The market has been in an uptrend for quite a while now (Higher highs + lows). It is also noticeable that patterns inside patterns as well as trends inside trends formed. Recently the price was squeezed in a steep uptrend, which from previous data, we know these usually don't last, and a selling opportunity would be imminent. A confluence then occured: The price reached both the larger and smaller uptrends' resistance trendlines, where a rising flag (bearish bias confirmation) also formed. The flag was then broken (second confirmation, to which an entry would have been made). However, since that one was missed, we will await a break of the tight uptrend's support trendline and a pullback (final confirmation) which we will hold to the downside as illustrated on the chart. Remember to follow and not try to lead the market. We take what is offered and do not enforce our own ideas on the market.