DAX at channel support (R/R is amazing here, but don't buy big!)
Hi traders,
At the moment we are at the bottom of a long channel on the $DAX. I think it is worth to try a long here because of the risk/reward. As you can see on the graph, my trade plan is to buy here with SL very close and a TP near 10,610.
Ratio: 4.09 (amazing!).
However, long term I am bearish indices, so I recommend buying small here.
IF we see RSI breaking the 30 line and trend lines too, we might be ready for a bigger bounce to 11,000 maybe or higher. (keep this in mind).
Good luck!
Thiago Duarte
@thiagotrader
thiago@duarteinvestmentgroup.com
At the moment we are at the bottom of a long channel on the $DAX. I think it is worth to try a long here because of the risk/reward. As you can see on the graph, my trade plan is to buy here with SL very close and a TP near 10,610.
Ratio: 4.09 (amazing!).
However, long term I am bearish indices, so I recommend buying small here.
IF we see RSI breaking the 30 line and trend lines too, we might be ready for a bigger bounce to 11,000 maybe or higher. (keep this in mind).
Good luck!
Thiago Duarte
@thiagotrader
thiago@duarteinvestmentgroup.com
