So this is more of a longer term trade but a very profitable one. The GER30 is at a weekly resistance level.
It has tried a breakthrough at point A where the price action wasn't strong enough to break through. It then tries again at point B to which it fails and then takes a big dip. It then rises back up to retest the resistance at point C in which it gives a false break out. Now for a 4th time were re approaching the resistance level, however, we have Divergence on the histogram and the RSI signifying a decrease in strength of the price action. This will be a good short trade. Ill, release a second analysis when I believe the short trade will be ready to enter. If this does break through then the trade becomes invalid and this then becomes a long trade. Always wait for confirmation. never enter early. Additionally, make sure that the money you lose on your stop is only 1-2% of your account.
Happy Trading - The Trading Box
It has tried a breakthrough at point A where the price action wasn't strong enough to break through. It then tries again at point B to which it fails and then takes a big dip. It then rises back up to retest the resistance at point C in which it gives a false break out. Now for a 4th time were re approaching the resistance level, however, we have Divergence on the histogram and the RSI signifying a decrease in strength of the price action. This will be a good short trade. Ill, release a second analysis when I believe the short trade will be ready to enter. If this does break through then the trade becomes invalid and this then becomes a long trade. Always wait for confirmation. never enter early. Additionally, make sure that the money you lose on your stop is only 1-2% of your account.
Happy Trading - The Trading Box
Trade active:
Trade entered as per me entry analysis. Stop @13289.2