DAX is trading inside a Channel Up on bullish technicals both for 4H (RSI = 58.830 , MACD = 35.400, ADX = 33.092) and 1D (RSI = 65.538, MACD = 212.600, ADX = 27.945). 1D is stronger as its pattern is a Bullish Megaphone for the past 1 month. Basically we are now expanding on the breakout signal given on Monday as shown below.
The Channel Up rises on every bullish leg by +1.80%, thus we are long (TP = 15,690). We will not short its top but rather wait for the more clear signal of the 4H RSI getting overbought above 70.000, which has happened all of its three times with the price hitting the top of the Bullish Megaphone. Then we will go short, aiming at the dashed line (TP = 15,600) which was hit every time the Megaphone printed a Higher High.
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The Channel Up rises on every bullish leg by +1.80%, thus we are long (TP = 15,690). We will not short its top but rather wait for the more clear signal of the 4H RSI getting overbought above 70.000, which has happened all of its three times with the price hitting the top of the Bullish Megaphone. Then we will go short, aiming at the dashed line (TP = 15,600) which was hit every time the Megaphone printed a Higher High.
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## Comments and likes are greatly appreciated. ##
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
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Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.