DAX Sell signal but gets invalidated on this level

٢٠ يونيو ٢٠٢٣

DAX is on a 2-day pullback with a new (dashed) Channel Up emerging.
The index is already inside two long term Channel Up patterns.
The RSI (1d) crossed under its MA level, calling for a technical pullback inside the borders of these Channel Up patterns.

Trading Plan:
1. Sell as long as the price remains under Resistance (1).
2. Buy if it breaks above it.

Targets:
1. 15740 (bottom on two Channel Up patterns).
2. 16950 (top on two Channel Up patterns).

Tips:
1. The RSI (1d) has a Rising Support. Keep that in mind as if it holds you might consider closing the short position earlier.

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Notes:
Past trading plan: