DAX (Germany30) Trading Idea


Dear traders,

The trading analysis from last time is going according to plan.

EURUSD has risen over 200 pips since I took a trade. I am looking at the 1.1550 handle first and then depending on price action possibly 1.1800 level.

So far the signs are more bullish than bearish. Therefore, I am still in a long position.

DAX (Germany30) Trading Idea

Today I am looking at the DAX. I have been following this instrument for quite a while and today it seems to have shown an indication for a reversal.

There is a bearish engulfing candlestick that formed on the daily chart.

11750 is a minor resistance level that coincides with it and is giving me a further indication  that bears might take control and turn the direction down.

I will be looking for a confirmation from the 4H chart tomorrow. If I see a bearish engulfing or a rejection this will give me further confidence to go and short this instrument.

There was a bearish engulfing pattern on the daily chart today, which ignited the sell-off and about which I wrote on my Twitter page here:
DAX (Germany30) Trading Idea

Happy Trading,

Colibri Trader

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