DAX on the strongest bullish momentum of all, targeting 16350.
DAX gave us both the sell profit we aimed for last week as well as the break-out buy signal above Resistance 1:
This time we are moving on a higher time-frame (1D), as the index is showing incredible bullish momentum on the long-term. Trading within a Channel Up since the October 03 2022 market bottom, the structure is best viewed using the Fibonacci Channel levels. Since October 21 the 0.236 - 0.382 Fib Zone has been the ultimate buy zone, with the most recent entry being on March 02 right above the 1D MA50 (blue trend-line).
With the 1D RSI coming out of its newest Accumulation Phase, the index can now target the 0.786 - 1.0 Fibonacci Zone, with our long-term target being at 16350.
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This time we are moving on a higher time-frame (1D), as the index is showing incredible bullish momentum on the long-term. Trading within a Channel Up since the October 03 2022 market bottom, the structure is best viewed using the Fibonacci Channel levels. Since October 21 the 0.236 - 0.382 Fib Zone has been the ultimate buy zone, with the most recent entry being on March 02 right above the 1D MA50 (blue trend-line).
With the 1D RSI coming out of its newest Accumulation Phase, the index can now target the 0.786 - 1.0 Fibonacci Zone, with our long-term target being at 16350.
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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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🤵Contact info@tradingshot.com t.me/tradingshot
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