DAX hit the bottom of the long term Channel Up. Buy.

10 Jul 2023

DAX hit on Friday the bottom of the 8month Channel Up, just under Support (1), which was the low of April 5th.
That is a long term buy opportunity and the price is treating it as such since it's already on two straight bullish candles.
The previous Higher Lows was also priced within the MA100 (1d) and the bottom of the Channel Up.

Trading Plan:
1. Sell on the current market price.
2. Buy if the price crosses under the Channel Up.

Targets:
1. 16430 (Resistance 1).
2. 15150 (MA200 1d).

Tips:
1. The RSI (1d) hit the Falling Support which made the Channel Up bottoms of December 16th and March 13th. However the price dropped some more after the RSI hit that price. Hence it is not unrealistic to expect 15150 and a MA200 (1d) test for the next long term buy.

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Notes:
Past trading plan: