Master the IBWT pattern

Want

Get it now (risk-free)

8 patterns that make up 98% of my PA income

Get it now (risk-free)

Learn the Scalping Secrets

Get it now (risk-free)

Read on Mobile Enter Reading Mode

Germany 30 (DAX) Trading Analysis

Posted on Aug 5th, 2018

by colibritrader

Germany 30 (DAX) Trading Analysis

Check out my trading strategy

Dear followers,

My last trading analysis was on AUDUSD. It went up as I was expecting to a minor zone of resistance and then continued its downfall.

On Friday AUDUSD reversed direction and now it is trading in a range.

It will be very difficult to take a direction from here. The major trend is still bearish, but considering the low volatility during the summer months, I will be surprised to see a major directional move.

Germany 30 (DAX) Trading Analysis

Today, I am looking at a potential continuation of the uptrend of DAX.

The index fell off from the heights at 12,900 to find a minor support at 12,500.

Last Friday’s price action setup was an inside bar (for more on inside bars, visit this article HERE)

This clearly indicates that the market participants’ mood is turning bullish again.

I would ideally want to see price forming a 4H confirmation bullish pattern before taking any further action.

The next two targets for the upside are 12,900 and 13,150 respectively.

I will be closely following this index.

Happy Sunday,

Colibri Trader

p.s.

Check out my recent article on Market Geometry if you are looking for a link between price and time in trading

or check out my professional trading course HERE

Leave a Reply Cancel reply

Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Colibri Trader Ltd, its employees, directors or fellow members. Futures, FOREX, CFDs, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures, FOREX and CFDs markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfd's, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.