DAX: Inverse Head and Shoulders aiming for a new All Time High.

DAX is trading around the 4H MA50 and 4H MA200 with technicals naturally neutral (RSI = 52.802, MACD = 10.300, ADX = 21.396) as on any consolidation. The pattern that was completed (inside the long term Channel Up) is an Inverse Head and Shoulders. Technically such formations target the 2.0 Fibonacci. Our plan is to traget the R1 initially (TP1 = 16,335) and then buy any pull back given and aim at Fibonacci 2.0 (TP2 = 16,600).

It is important to mention that the 4H RSI has been trading inside a Channel Up during the formation of the Inverse Head and Shoulders, giving an early bullish signal.

Prior idea:


## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##