In the recent period, the RSI has been at an extreme level three times (H4 chart).
None of the periods lasted longer than 7-8 days.
DAX showed a 4.5-5 percent increase in all three periods.
For me, this means that a strong correction may arrive within the day/days, but also within the week.
I don't think that a rise of more than 0.5 percent is expected, and after that we will most likely reach the peak (temporary or not?...we can't know, we are not fortune tellers:)
Setup:
Sell @ MKT
Sell @ until 22950
SL @ depend on your risk management
None of the periods lasted longer than 7-8 days.
DAX showed a 4.5-5 percent increase in all three periods.
For me, this means that a strong correction may arrive within the day/days, but also within the week.
I don't think that a rise of more than 0.5 percent is expected, and after that we will most likely reach the peak (temporary or not?...we can't know, we are not fortune tellers:)
Setup:
Sell @ MKT
Sell @ until 22950
SL @ depend on your risk management
Trade active
Suggested SL @ 22710Trade closed: target reached
i closed out my position.
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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.