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Hello in one of your promotional videos you mentioned you were mentored by the largest daxtrader in London this I find very intriguing because I have traded the daxs by teaching myself with conventional technical analysis as you would know the results are poor however it is a future that I want to learn to trade and kmow more about do you think that just by buying your course it would give me what I need or do I need to find a mentor for this index it would be very difficult to find a mentor on my own can you assist. Can we discuss
Trading is a long journey, but if you are willing to commit to it, it is extremely rewarding
Dear Colibri,
Can you give us your thoughts on the Dax now that we’ve had that large down candle back into support.
Have you had any thoughts about a possible top may have been put in now.
In your opinion what would a good set of parameters that would confirm that a top has been put in.
Just to share my own thoughts I am not at this stage fully convinced that a top has been put in only suspicious that one has perhaps even a short term top but just the same curious about your take.
Thanks
Hi Dan,
I am seeing a minor bearishness, which can turn into a major reversal. For now, I am not trading DAX, especially because it is in a major uptrend. But this might change depending on price action.
Hi colibritrader,
I wanted to share my observations about the dax.
I can see that uptrend weakness has crept in and that the price action is no longer very bullish however a little more confirmation needed
Another retest and fail of the 12300 area confirmed with bull rejection price action.
All after tonight’s session April 5th 2017 then I think it might just be confirmed. But bcause of the index being such a bullish one it will be hard to know
Also curious how this weeks candle closes week ending April 9th
Your thoughts very welcome
Thank’s
Dan
Hi Dan,
These are really good remarks! I still prefer to stay away from DAX, especially after such a strong uptrend. I will keep on monitoring it and if I see a potential setup, I will certainly write about it! Stay tuned! Great analysis as usual:)
Hi colibritrader,
Just wanted to share some thoughts about the Dax some points will be obvious to anyone looking at the chart but none the less my thoughts.
Last weeks was very very strong week one of the strongest weeks in 15 weeks and now this week we could not maintain last week’s high but closing within last weeks mid point, still not an inside bar on weekly. Nothing really bearish.
Wednesday’s daily candle strikes me as very strange it is completely shaven no tales at all absolutely no buyers to me that indicates that no one was willing to buy until prices moved lower and it did. Could it be smart money was thinking “I’ll only buy once Dax is on sale because higher than 12300 is retail I don’t want to pay retail” lol
Thursday low touched the 2 week ago high buyers rushed in.
There is strong support at 12075 in my view would be the line in the sand for this up trend.
If we break below that and “how we do it” will help me understand strength of this trend.
We have also made a double top with RSI divergence matching the top from April 2015 it’s ironic that these two tops are in the same month and then we have seasonal tendancy in May to sell off.
Not 100% reliable of course but just an observation at this point.
I do my best analysis on the weekend and I would love to trade during the week from planning what I see on the weekend perhaps this is too far out but it could be a strategy that virtually eliminates all the emotion which can play havoc if you let it while the market is live.
Have a nice weekend 🙂