DAX Trade break outs only. Neutral at the moment.
DAX has turned neutral after the 16340 top and the subsequent test of the MA50 (1d).
As long as those two levels hold, it will remain sideways with no action to take.
The long term pattern is a double Channel Up.
Trading Plan:
1. Buy if the price closes over Resistance (1).
2. Sell if the price closes under the MA50 (1d).
Targets:
1. 16750 (top of Channel Up).
2. 15200 (Fibonacci 0.618 level).
Tips:
1. The RSI (1d) is trading under the MA trend line, consistent with the previous two bottoms of the Channel Up.
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Notes:
Past trading plan:
As long as those two levels hold, it will remain sideways with no action to take.
The long term pattern is a double Channel Up.
Trading Plan:
1. Buy if the price closes over Resistance (1).
2. Sell if the price closes under the MA50 (1d).
Targets:
1. 16750 (top of Channel Up).
2. 15200 (Fibonacci 0.618 level).
Tips:
1. The RSI (1d) is trading under the MA trend line, consistent with the previous two bottoms of the Channel Up.
Please like, follow and comment!!
Notes:
Past trading plan:
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