Head and Shoulder Consolidation DAX
Updated
The hourly DAX chart shows a potential head and shoulders formation to support an uptrend.
If the formation is correct the price could raise up to 10,000 or at least to 9,000 to test the high from the 27th of January.
I have already a position in this trade which I opened because of a Triagle pattern on the 5 minute chart.
Next entry for me would be a retracement after the breakout of the neckline.
If the formation is correct the price could raise up to 10,000 or at least to 9,000 to test the high from the 27th of January.
I have already a position in this trade which I opened because of a Triagle pattern on the 5 minute chart.
Next entry for me would be a retracement after the breakout of the neckline.
Note
The price is back at the neckline, now we will see what happens. A breakout with a pullback will be a good chance to enter a long position up to 9,800-10,000.
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