Dear Traders,

Today, we have spotted a DAX Buy signal from its daily price action. It is given by a pinbar candle that has formed three trading sessions ago and a bullish-engulfing pattern that formed on the daily chart. Then, we had a price decline towards the middle of this formation, where buy orders are in general accumulated. All buy orders should be followed  by a tight stop under the level 8630. It is early for price targets to be put and it all depends on the following price action. For now it looks like the price has a long way to travel.

Happy Trading,

Colibri Trader

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