Waiting for RSI signal to start selling DAX.

FX:GER30   DAX Index
Hi Traders,

I trade for 8 years and all these years I have been using RSI which is a free indicator which also does not lag. However, I use him with trendlines connecting with higher highs or lower lows so I can see a signal when he breaks this trendline . As you can see the RSI with those trendlines , everytime he breaks those lines it indicates a breakout and this is exactly what I have been doing with the DAX for months now.
At the moment, we are very very close to break a trendline on RSI which will indicate that a top might be in place. However, do not use this tecnique as a signal!!! Use as a alert for you to find other reasons to trade. For example, we can also see that the top touched the 0.786% fib which is a very powerful fib. Also we can see on the daily that we are in the top of a channel.
So with all this reasons together gives us a nice reason to short DAX . I recommend to start trading small, as the market moves in our direction, you can increase your exposure.

Thanks for looking!

Thiago Duarte
Hi. Thanks for sharing. How effective has this method you use been in the last 8 years?
looks good ! Not afraid of the possible channel breakout in the long term?
Thanks for sharing this info. Very useful.
+1 Reply
Nice. Thanks for sharing!
+1 Reply
Thiago great explanation on how to filter several indicators to take a better Risk Reward trade. Cheers
+2 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out