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DAX bullish candle for short term upside to 13000

Long
CURRENCYCOM:DE30   DAX 30
Hello Fellow Trader!

Bullish candle reversal outside Bollinger band suggests we could see short term rise in price to 12850 for DAX .

DAX - Moving the stop to break even would be a wise move once target 1 hit.

Key Points:
- Price holding below the 200 EMA
- Price holding below the 50 EMA
- Outside lower Bollinger Band
- RSI oversold territory
- Waiting for bullish candle reversal candle
- SPX also starting to recover

Key Levels:
Support - 12545
Resistance – 12850, 50 EMA , 200 EMA , 13000

Entry Zone:
Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals.
Optimal Entry – 12600
Supporting Entry – 12650

Candle Reversals for entry
- Bullish Hammer
- Bullish Engulfing
- Bullish Piercing

The Risk:
As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios.
If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital.

IF: Price breaks below 12498 – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter.

Reward / Reward Targets:
Optimal Entry 12600 – Target 1 12850 = 2.5x Reward to Risk
Optimal Entry 12600 – Target 2 13000 = 4x Reward to Risk
Supporting Entry 12650 – Target 1 12850 = Reward to Risk
Supporting Entry 12650 – Target 2 13000 = Reward to Risk
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