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DE30 is approaching an overbought area so we will be looking for sell setups on lower timeframes.
on M30: DE30 is forming a channel in red but the lower trendline is not valid yet, so we will be waiting for a third swing to form around it. (projection in purple)
Trigger => Waiting for that swing to form then sell after a momentum candle close below it. (gray area)
Until the sell is activated, DE30 would be overall bullish and can still trade higher.
and of course, as it approaches the lower blue and brown trendlines from Daily, we will be looking for trend-following buy setups.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
DE30 is approaching an overbought area so we will be looking for sell setups on lower timeframes.
on M30: DE30 is forming a channel in red but the lower trendline is not valid yet, so we will be waiting for a third swing to form around it. (projection in purple)
Trigger => Waiting for that swing to form then sell after a momentum candle close below it. (gray area)
Until the sell is activated, DE30 would be overall bullish and can still trade higher.
and of course, as it approaches the lower blue and brown trendlines from Daily, we will be looking for trend-following buy setups.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich