DAX potential pull-back.
DAX had an excellent run since our buy signal (see chart below) more than two months ago (March 21) but after it broke above the former All Time High (ATH) on May 19, it has formed a top and is pulling back:
As long as the price is closing the 1D candle above the 1D MA50 (blue trend-line), it will be a buy opportunity targeting the top of the (dotted) Channel Up at 16600. If however it breaks below the 1D MA100 (green trend-line) we will quick sell towards the Channel's bottom at 15350 and add a new buy there. In either case, the target remains intact at 16600.
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As long as the price is closing the 1D candle above the 1D MA50 (blue trend-line), it will be a buy opportunity targeting the top of the (dotted) Channel Up at 16600. If however it breaks below the 1D MA100 (green trend-line) we will quick sell towards the Channel's bottom at 15350 and add a new buy there. In either case, the target remains intact at 16600.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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