Dear DAX Trading Signal Traders

Today’s signal is coming from the DAX market. After a week that did not produce great signals for me, I am finally spotting one that is really grabbing my attention. I have been looking at the german stock market for a while already. After the big sell-off, I have been looking for a suitable place for entry. Now, it seems that the market has found some comfort in the 10,000 support area and is ready for a continuation of the uptrend.
The trading signal for today is a long DAX trade. There is a bullish engulfing pattern, that is bouncing from a support level. There were a few rejections in the previous sessions, which indicates that the selling interest is reducing. It’s buyers’ turn now! I will be looking to enter in a trade at 10,250. My stop loss would be placed just under the level of 10,049. My primary target is the level of 10,500. Then, depending on the price action, I will be looking to take profits or let the position run until my secondary target at 10,700.

Happy Trading,
Colibri Trader