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The_Cannalyst

Kissed EMA 200 + Bullish H&S = Long?

Long
DAX Index (XETR:DAX)  
The_Cannalyst Updated   
XETR:DAX   DAX Index
Support and Resistance Head and Shoulders
28
3
supportandresistance headandshoulders
Former thread:
EMA 200 = Buying trigger or Selling trigger?
EMA 200 = Buying trigger or Selling trigger?
Trade active:
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dax reached resist...watch the rsi -rsi has reached the overbought area
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nice nice nice nice nice
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but watch the rsi! he is overbought now
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Trade closed: target reached:
wow!!!
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in the shortterm view we see a classical bullish flag.
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below 12.900 a sharp selling wave could be initiated
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longterm/midterm view:
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The market is stron -really strong! So a direct buyingwave up to 13.000/13.600 is possible. If we have a look at the shortterm flag, that could be a thinkable move. On the other Hand we made a 1100 Points move, so a consolidation would be normal and healthy (Have a look at the VDAX!!). Also have a look at the RSI, he is in the overbought area, so the likelihood of a consolidation increases.
Summa Summarum: The 13.000 is THE LEVEL TO WATCH. Long > 13.000, waiting as Long as <13000 - that seems simple :-)
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an opportunity for my anticyclical risk Lovers?
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and here the procyclical breakout variante (my favourite):
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Trade active:
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wow wow wow
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