DAX Last week's trading plan intact

DAX eventually followed the trading plan suggested last week, as the price turned neutral into a consolidation range, following the rejection on the All Time High Lower Highs trend-line:


The strategy is still valid. As long as the Lower Highs trend-line holds and the 0.382 Fibonacci retracement level supports, we can keep scalping for medium-term profits. A break above the Lower Highs is a bullish break-out signal targeting the 16290 High, while a break below the 0.382 Fib (13900) is a bearish break-out signal targeting initially 13350 (March 10 Low).

Notice that in RSI terms (portrayed on the 1D time-frame), it has started trading downwards on Lower Highs, similar to January. That was when the correction trend of the Lower Highs started.



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