DAX30 Index Descending Triangle Pattern And Long Opportunity
Description: Chartreaderpro finds a potential descending triangle pattern formation. Long opportunity at the breakout of the triangle.
Time Frame: H4
* Finds support and makes a double bottom at 11400
* Price closed above EMA 50
Trade Opportunity: Buy the potential breakout of the triangle as shown in the chart.
Estimated breakout level: 11563 – Confirmed by MM 2/8
Targets: 11710 and 11820
Invalidation Level: Below the double bottom 11400
Aggressive Traders: May long at the current level with the same stop loss
What to pay attention: If the index can not break out of the triangle, we might see it is testing 11400 support for a bearish breakout. In this case, we will update the setup for the members.
YOU CAN VIEW THE SETUP: DAX30 TRIANGLE PATTERN
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