Dear traders,

Last time I wrote about GBPUSD.

Since I wrote, the price has gone down, which was the expectation.

Then, the price found support and continued its uptrend.

Currently, it is looking undecided, so probably the best thing is to stay aside.

I am currently looking at DAX.

DAX Trading Analysis 20.12.2023

This might as well be the last trading analysis of the year.

It has been a very productive year and I must say how grateful I am to have you following me here 🙏

I am today looking at the German stock market and it looks bearish again.

There is a major supply zone as you can see marked on the screenshot above.

The price also painted a bearish engulfing pattern and currently, the price is just hovering over the zone.

All of the signs are there for us to see a bearish retracement back to the zone.

The question is if we will see a drop below this zone or if the price will bounce back.

I am currently in a short DAX trade since this morning.

We’ve taken the trade in the trading room, so let’s see if the price will continue its course lower or bounce back.

Happy Holidays,

Colibri Trader

P.S.

Did you read Wall Street’s Prophets: Meet the 13 Forecasters Who Got It Right in 2023 – Plus, Their 2024 Financial Predictions?