TheSignalyst

DE30 - Potential Bearish Reversal Soon!

CURRENCYCOM:DE30   DAX 30
Hello everyone, if you like the idea, do not forget to support with a like and follow.

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
This analysis is done using RichTL indicator
http://www.RichTL.com

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Comments

This is a good idea. Thanks for sharing.
+1 Reply
@VincePrince thank you dear Vince
Reply
I agree. Daily time frame looks bearish at this point. ES1! is not bullish either. I am curious what is going to happen. I can not tell if it is just temporary for few more days due to FOMC spooking the market or this is start of correction. Anyways, time will tell. Wish you best luck with your trades!
+1 Reply
TheSignalyst Tradersweekly
@Tradersweekly, thank you gentleman! wishing you the best in your trades too :D
+1 Reply
Tradersweekly TheSignalyst
@TheSignalyst, I saw you commented some of my works. Thank you very much as well. I truly appreciate it.
+1 Reply
TheSignalyst Tradersweekly
@Tradersweekly, it is an honor. keep up the good work :D
+1 Reply
Tradersweekly TheSignalyst
@TheSignalyst, You as well and trade safe.
Reply
a good idea. thanks for sharing
+1 Reply
@Jarrett34176 thank you Jarrett
Reply
Thanks for sharing! Nice catch 👍🏾👍🏾💰
+1 Reply