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Daily Price Action Setup DAX

Posted on Nov 20th, 2014

by colibritrader

Signals

Dear Daily Price Action Setup Traders,

Today was an interesting sessions for the people trading German shares or the German stock market- DAX. After a close-to 100 points sell-off in the morning session things changed completely when US traders joined in the afternoon session. There was a sharp reversal and the price followed an inverse bell-curve like movement. The support levels at 9380-9400 held fast and the sellers did not manage to pierce below those levels. These conditions helped buyers and the price went up 100 points creating a daily pinbar.

This price action setup is giving traders green light for further buying. All long entries should be therefore triggered at 9480 with a stop loss just below the nearest swing-low at 9375. The traders who entered on our previous DAX trading setup could scale in to their already established long position and be targeting 9650 to take trading profit.

Happy Trading,

Colibri Trader

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