tradewithhedge
Short

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
@thiagotrader
thiago@duarteinvestmentgroup.com
Hi. Thanks for sharing. How effective has this method you use been in the last 8 years?
Reply
looks good ! Not afraid of the possible channel breakout in the long term?
Reply
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
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