DAX Trading Signal

Last time’s trading signal  (DAX trading signal) was not a very accurate one. It was not triggered, because DAX opened with a gap of almost 200 points, so this did not cost any losses. But, on the other side, it was not really well-timed. There was no price action signal- only a support level indication that the price might be ready to go up. In the end, the price kept on going down.

In fact, today’s signal is coming from the same index. DAX is showing some signs for a negative bias. After the powerful break of the previous support level, now we are facing more selling pressure. The daily price action is telling us more sellers are going to join the bearish mood. The daily candle is an inverted pin bar and it is signalling more negative bias. I will be looking to go short at a retest of the imminent minor resistance level at 9830. My stop-loss would be placed just above 10,130. If the price does not go up to my entry price, I will be looking to enter short during the trading sessions on a small pull-back. My first price target is the level of 9350. My secondary price target (depending on price action) is the level of 9150.

Happy Trading,

Colibri Trader