Let's start with daily chart;
Downtren started in January 2018 still continues. Value tested the resistance 3rd time on July 25th and than steep fall has been started.
Now when we come to 2hours chart, we can see steep fall trend line started on July 25th better. Today the price is going up and seems like that it will test the resistance of trendline 4th time. Let's wait and see the reaction of value once it hits to resistance;
Scenario1 in purple arrow (More likely to happen);
Resistance will work one 4th time and push the price down to 11276 support line
Strategy: Play short on DAX target should be around 11300. Stop loss will be the orange triangle resistance.
Scenario2 in green arrow (Less likely to happen):
Price will break the resistance and go up. We need to see narrowing bollinger bands for this movement and RSI should break the downtrend line. Another indicator we should be looking is moving average, if it can pass thorough the bollinger middle line upwards.
Strategy: Play long by the time of breaking point (most probably around 11650), Target1 will be 11830. Than we can see some slow down and than continue to upper channel and Target2 will be around 12100.
RSI is also confirming both movements, we have to check it closely to see the move.
Downtren started in January 2018 still continues. Value tested the resistance 3rd time on July 25th and than steep fall has been started.
Now when we come to 2hours chart, we can see steep fall trend line started on July 25th better. Today the price is going up and seems like that it will test the resistance of trendline 4th time. Let's wait and see the reaction of value once it hits to resistance;
Scenario1 in purple arrow (More likely to happen);
Resistance will work one 4th time and push the price down to 11276 support line
Strategy: Play short on DAX target should be around 11300. Stop loss will be the orange triangle resistance.
Scenario2 in green arrow (Less likely to happen):
Price will break the resistance and go up. We need to see narrowing bollinger bands for this movement and RSI should break the downtrend line. Another indicator we should be looking is moving average, if it can pass thorough the bollinger middle line upwards.
Strategy: Play long by the time of breaking point (most probably around 11650), Target1 will be 11830. Than we can see some slow down and than continue to upper channel and Target2 will be around 12100.
RSI is also confirming both movements, we have to check it closely to see the move.
Transakcja zamknięta: osiągnięto wyznaczony cel:
Our first target has been reached but 11837 resistance pushed the value back into channel