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DAX Price Action

Posted on May 21st, 2015

by colibritrader

Dear Price Action Traders

This week is extremely good in terms of trading signals. The trading signal from last time has already risen around 200 pips and is still not showing signs of exhaustion. The trade from before this trade (DAX) is still performing great. There is no need to exit this trade. Even quite the opposite. The price action signal from today is coming from DAX, as well.

I am seeing a bearish rejection on the daily time frame of DAX. What this means is that sellers are hesitant and more buyers are probably going to take over the bears in the trading sessions to come. The level of 11,750 has been tested and it seems that it is a good support level giving even more confidence to the bulls.

The price action entry for today is long DAX at the current market level- 11,870. My stop is placed just under 11,740. The next target is the level of 12,000 and 12,100 depending on price action.

Happy Trading,

Colibri Trader

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