Dear DAX Price Action Traders

The last trade in the USD/JPY did not show the desired outcome. We have experienced some turbulent moves there. We have been stopped out on this trade. The price went straight through our stops. I am seeing more and more bearishness in this currency pair. That is why, I am looking for another signal in the days to come to probably short it. But for now there is nothing particular. There is an inside day, but I prefer to concentrate on another financial instrument.

DAX! That is what I am looking at today. It is showing some bullishness. The daily candle is a strong bullish-engulfing candle. There were only buyers in today’s session. That is what makes me believe that we are going to see more new buyers rushing in the sessions to come. My entry is going to be a long one. The parameters are as follows:

Long entry after a possible correction towards 10,900. The stop is going to be placed just under the level of 10,640. The first target is the level of 11,200. The second target is the level of 11,500. From there it all depends on price action.

Happy Trading,

Colibri Trader