DAX (Germany 30) Trading Analysis




Dear traders,

The trading analysis from last time was on USDJPY. I was expecting to see price reaching down to the 105.50 handle.

Price has been reached this level and I managed to squeeze a small profitable trade. Currently, price is rebounding from this level and I have closed my short trade.

There is a small inside day candlestick formation on the daily timeframe.

I am not as certain as before that price will continue its downfall and therefore prefer to not stay in this trade.

In fact, this pair looks to me more bullish than bearish. I won’t be surprised to see the price going up to 108.00 again. Having said that, I do not intend to trade this pair at this moment of time.

DAX (Germany 30) Trading Analysis

I am looking at the german index- DAX. It has printed a big bearish rejection candle on the daily timeframe.

The 4H timeframe looks as bullish as the daily one. I even wrote about it on Twitter today. You can check it out HERE

There is a major support level just below 12,000. It looks like this level is holding strong for now.

I will be following price action and see if there won’t be a price action pattern that rejects the bullish momentum.

For the time being, it looks more bullish than bearish. The next imminent resistance level is at 12,650.

Happy Trading,

Colibri Trader



Check out my recent article on MACD HERE

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