Target hit. Expecting a minor pull back to buy again.

Sep 24, 2018

TP = 12,207 hit as the 4H Channel Up (RSI = 69.388, Highs/Lows = 10.3357) aggressively broke to a new Higher High at 12,460 with 1D making at the same time a Lower High on its Channel Down (RSI = 55.850, MACD = -12.700). Since we consider this month's 11,880 bottom the completion of the 1W H&S pattern, we expect DAX to break even higher. However given the fact that On Wednesday the Fed announces the rate decision, a pull back is expected on most stock markets. We will be buying near 12,300 aiming at 12,420. Crossing of this level suggests a breaking of the 1W Channel Down formation and initiates a new uptrend to 12,600 first and 12,760 in extension.