Hello everyone, if you like the idea, do not forget to support with a like and follow.
DAX is sitting around a strong supply zone and round number 14000.0 so we will be looking for sell setups on lower timeframes.
on H4: DAX formed a valid channel in red but it is not ready to sell yet. We want the sellers to prove to us that they are taking over by breaking below the last swing low!
Trigger: Waiting for a momentum candle close below the gray area to sell. And for extra confirmation, wait for a momentum candle close below the 13600.0 to sell (which would be the neckline of the head and shoulders pattern from H1)
Until the sell is activated, this one would be overall bullish and can still trade higher and higher!
As price approaches our lower blue support, we will be looking for buy setups.
Good luck!
DAX is sitting around a strong supply zone and round number 14000.0 so we will be looking for sell setups on lower timeframes.
on H4: DAX formed a valid channel in red but it is not ready to sell yet. We want the sellers to prove to us that they are taking over by breaking below the last swing low!
Trigger: Waiting for a momentum candle close below the gray area to sell. And for extra confirmation, wait for a momentum candle close below the 13600.0 to sell (which would be the neckline of the head and shoulders pattern from H1)
Until the sell is activated, this one would be overall bullish and can still trade higher and higher!
As price approaches our lower blue support, we will be looking for buy setups.
Good luck!
This analysis is done using RichTL
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Support Bright Ideas Through Decentralised Crowdfunding
ideaology.io
Buy CRGPT on Uniswap
cutt.ly/CRGPT