DAX (Germany 30) Trading Analysis

@Colibritrader

Dear traders,

Last time I wrote about EURJPY and so far there has not been much activity here.

I have been monitoring closely this pair and also the EURUSD, where price action has been somehow stifled.

I am finding the FX markets to be quite choppy in the past few weeks.

Hence, this leads me to one of my all time favourite instruments to trade.

DAX (Germany 30) Trading Analysis

It looks like DAX has found a base and is currently looking bullish.

There is a major supply zone just above the current price at 13500.

Therefore, if we see price continuing its move up, that zone should be very closely monitored for a potential reversal.

Today’s price action candle is a pin bar.

This gives me a bullish confirmation and hence I will be looking to go long if the 4H chart confirms that view during tomorrow’s trading session.

I will be looking for a pin bar or a bullish engulfing pattern to signal a potential continuation of the existing uptrend.

Happy Trading,

Colibri Trader

P.S.

Check out my recent article on Parabolic SAR

 

 

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