Ger 30 (DAX) 15 min set up

FX:GER30   DAX Index
133 0
This is what we are waiting for now to happen

RSI Divergence with the price

-The RSI has to go overbought above 80 at the initial impulse leg
-And then at the second HHC we need to see divergence but the RSI cannot be overbought above 80 at the resistance area

And the MACD (blue line) stay flat or start having a negative slope(tenting lower)

What we mean by saying "impulse leg" we do not just look at the price action but also in the behavior of MACD histogram which indicates a certain type of momentum strength

Look that smooth curved histogram

Its kinda subjective how this looks and how we identify "smooth"... I am working on how i can calculate that distance between MACD and signal line so we can have an accurate objective signal so we can actually create an algorithm out of it.
Comment: Our resistance... 2.24 extension of the HL of the consolidation zone

As you can see our pattern is slowly tend to be formed in the 1H time frame also

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out