justatrader

DAX - Potential longs from 11155, targeting 11650.

FX:GER30   DAX Index
From the previous analysis, the wedge pattern has become completely invalidate. Replacing the wedge with the price channel gives a better perspective now.

1. Price is currently above the support/resistance level at 11250 as the leg up came on a modest higher low in RSi divergence.
2. While it is tempting to go long targeting 11650, waiting for another dip (for RSI to make a new higher low) will be a better option to go long on the DAX             .
3. Point 2 *could be* validated if DAX             retest the minor trend line break out level (and hopefully confirms with a higher low in RSI )

Ignoring previous pending short levels and instead focusing on longs targeting 11650
just to add some art
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
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder 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