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Germany30 (DAX) Trading Analysis

Posted on Jun 3rd, 2018

by colibritrader

Germany30 (DAX) Trading Analysis

Dear traders,

I hope you are having a great weekend!

Last time I wrote about AUDUSD. I managed to get into a small long trade.

Remember I was waiting for a retracement and a confirmation from price action. That happened and I managed to get into a trade.

There was a bullish engulfing pattern on the 4H chart. The daily chart also closed as a pinbar.

Both of those trading signals led me to conclude that we might see more buyers joining the buying queue. I am currently waiting to see how the market will open and if the bullish scenario will continue to be valid.

Germany30 (DAX) Trading Analysis

It has been a while since the last time I wrote about DAX.

Today I am looking at an inside bar that formed on Friday. Price action is confirming the minor support level that has formed at 12600.

I have also spotted an inside bar on the 4H chart. Those two price action setups are enough of a confirmation for me. I will still wait to see how the market will open on Monday.

Remember: Do not anticipate, participate in reading the market!

Happy Trading,

Colibri Trader

p.s.

Check out my recent article on 5 Pin Bar Trading Strategies

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