Germany 30 (DAX) Trading Analysis

by: Colibri Trader

Dear traders,

As I have noted yesterday, this week has started with a lot of opportunities. Sometimes you have weeks with 0 trades, other times you have a few trades and are actually wondering which one to take.

I have the feeling that this week is from the latter.

The trading analysis of EURCHF from yesterday did really perform as expected and I did go short after a bullish rejection candle formed on the 4H chart. Currently, the daily chart is exhibiting a rejection candle and this is definitely a good bearish confirmation

Germany 30 (DAX) Trading Analysis

Today’s analysis will be on the German index- DAX. 

I am looking at the daily chart as usual. First thing I have noticed is the inside bar that has just formed.

This gives me a bullish indication of a trend continuation. One thing to note is that there is a resistance nearby at 12,700.

We will either see a breakout or a reversal from this point.

I am myself looking for a good entry to possibly go long. If price breaks through this resistance level, our next target is the level of 13,000.

For the ones amongst you that have taken my trading course, you know what I am looking for at the moment. Let’s see if tomorrow’s intraday price action will confirm my expectations.

Happy Trading,

Colibri Trader

p.s.

Check out my article from Sunday on 3 Trading Opportunities and how accurate the Crude Oil trading opportunity was!

In case you have not downloaded my loss calculator, please make sure you have it, since it is absolutely free! It might save you a lot of costly mistakes.

If you have any questions- hit me up on: admin@colibritrader.com