DAX - rising wedge 15 minutes

DAX Index – 1H Chart Analysis (February 20, 2025)
1. Market Structure & Trend Analysis
Ascending Channel: The price has been trending upwards within a well-defined ascending channel.
Support Retest: Price is currently testing the lower boundary of the channel, which has acted as dynamic support throughout the uptrend.
Potential Bounce: The blue arrow suggests an expected continuation to the upside if the support holds.
2. RSI & Momentum Analysis
RSI at 42.14: Indicates the market is approaching oversold conditions on the 1H timeframe, meaning a possible bounce is near.
Bullish Divergence? Not confirmed yet, but if RSI starts rising while price remains stable, it could indicate a reversal.
3. Key Levels to Watch
Support:
22,400 - 22,500 (Lower trendline of the channel)
22,250 (Stronger support if breakdown occurs)
Resistance:
22,750 - 23,000 (Upper trendline and psychological level)
4. Potential Trade Scenarios
📈 Bullish Scenario (Higher Probability)

If price holds above 22,500, we could see a continuation towards 22,750 - 23,000.
Long Setup:
Entry: 22,500 - 22,550 (confirmation of support hold)
Stop-loss: Below 22,400
Target: 22,750 - 23,000
📉 Bearish Scenario (Lower Probability)

If price breaks below 22,400, a decline toward 22,250 or lower could follow.
Short Setup:
Entry: Below 22,400
Stop-loss: Above 22,550
Target: 22,250 - 22,000
5. Conclusion & Strategy
Bias: Bullish as long as price stays within the ascending channel.
Trade Idea: A long trade from 22,500 with a stop below 22,400 offers a good risk-to-reward ratio.
Risk Management: If price starts consolidating near the lower boundary without bouncing, consider reducing risk or waiting for further confirmation.