dcm2020

DAX at channel support (R/R is amazing here, but don't buy big!)

Long
FX:GER30   DAX Index
Hi traders,

At the moment we are at the bottom of a long channel on the $DAX. I think it is worth to try a long here because of the risk/reward. As you can see on the graph, my trade plan is to buy here with SL very close and a TP near 10,610.
Ratio: 4.09 (amazing!).
However, long term I am bearish indices, so I recommend buying small here.
IF we see RSI breaking the 30 line and trend lines too, we might be ready for a bigger bounce to 11,000 maybe or higher. (keep this in mind).

Good luck!

Thiago Duarte
@thiagotrader
thiago@duarteinvestmentgroup.com

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