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DAX Trading Signal

Posted on May 5th, 2016
by colibritrader
  • Signals
  • Trading Ideas
DAX Trading Signal

Dear DAX Trading Signal Traders

The trading signal from last time has reached my primary target and I have decided to take half of the profits. I am going to let the other half run or will close it if I see the market conditions changing. I can see a little pressure around the imminent support level at 1.4450. There is hesitation and we might see a bounce-back or a quick breakthrough these levels. I am anyways calm, because I have secured some of the profits.
The DAX trading signal from today is a short signal. I can see a bullish rejection and a pin bar that has formed on the daily chart. It has formed just below the psychological level of 10,000, which adds to the significance of this trading signal. I am looking to go short at around 9820. My stop-loss would be placed just over 9920. My first target is the level of 9500. Then, it will come down to price action to decide.

Happy Trading,

Colibri Trader

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