Dax/Ger30 Long position based on rsi hitting 50 level multiple times.
On the 12 hour we have multiple contact points with the 50 level, so this is the zone of consolidation, on the lower time frames a downtrend was broken but we started consolidating soon after.
The daily chart has already broken and retested the 50 level on the rsi and that is a bullish signal.
Htting the 50 level multiple times means there very likely will be a break of this resistance of the rsi.
Targets are shown on the chart itself.
Goodluck!
On the 12 hour we have multiple contact points with the 50 level, so this is the zone of consolidation, on the lower time frames a downtrend was broken but we started consolidating soon after.
The daily chart has already broken and retested the 50 level on the rsi and that is a bullish signal.
Htting the 50 level multiple times means there very likely will be a break of this resistance of the rsi.
Targets are shown on the chart itself.
Goodluck!
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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.