We are at an historic low for this commodity, at such low prices 0 is your stop loss and with the winter coming the sky is your take profit. Just be patient. If it goes lower I'll be so happy to buy even more.
Here's my count on DAX, we are in the c leg of wave 4 in a bigger cycle wave 5. Below 11740 points should begins the last impulse that if similar to big wave 1 started in 2003 will bring this index to 14500 points area. At that level we could have a big correction down to 8700 area at the end of big cycle wave 4.
The pair is at a critical point: at this level we could have another impulse up targeting previous high, this will give us an extremely good RR ratio trade.
The pair is near the low border of a price channel started 2 years ago, in the circled area are going to intersect 3 dynamic supports of previous yearly channel plus 2 daily channels that I draw on the chart. With a Reward to Risk of 5 to 1 targeting previous high in this big correction I'm definetly keen to see price in that area with some bullish price action.
In this pair we are at the bottom of a 5 year channel, weekly price action is definetly bullish, great RR. If you look for a more conservative entry wait for the break out of the descending short term channel.
The pair is at the bottom of an ascending weekly channel, price action in the last 2 weeks shows some sign of bullish strenght, targeting previous high will give us a reward to risk of 6 to 1.
The pair is at lower border of an ascending channel, is it quite possible a third leg up in this long term correction phase, very good risk to reward ratio 1 to 3.
Wait in the next hour the right pattern to enter long, we are at the base of the dynamic support which is also the lower limit of the value area, take profit at the control price line which I draw in the middle of the channel.
Excellent risk reward ratio here. Try to buy at 46.50, SL at 45.50, TP at 49.50
It's a little bit too late on this but entering on a pullback in the 4h TF will give a RR ratio of about 1
SL: 1.4060 TP: 1.4650
Then in the upper half of the discending channel I'd try a good price action setup to go short
