TRADE UPDATE Dax Index well on the way to the first target
DAX initially formed a large Falling Wedge.
Then before the price broke above it formed a Reverse Cup and Handle.
The price broke not only out of the Brim Level but also out of the Wedge.
This gave a HIGH probability trade to buy and hold long.
Other signals confirmed too with
7 >21 >200 - Bullish
RSI>50
Uptrend line still strong.
I'm still happy to set the target to 16,375.
Once could even place their stop loss just below the most recent low with the trend line.
Then before the price broke above it formed a Reverse Cup and Handle.
The price broke not only out of the Brim Level but also out of the Wedge.
This gave a HIGH probability trade to buy and hold long.
Other signals confirmed too with
7 >21 >200 - Bullish
RSI>50
Uptrend line still strong.
I'm still happy to set the target to 16,375.
Once could even place their stop loss just below the most recent low with the trend line.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.