DAX Traders

The trading signal from last time did not act according to plan and we got stopped out with only a 55 pips loss. The support level did not hold and a lot of the buyers took out their long positions just to weigh more on the sellers and push the price even lower.

Dear DAX traders,today’s trading signal is coming from DAX. Again, this is not a high probability trade, since there is no very confirmative price action signal from the daily time frame. The only significant piece of information that the daily time frame is giving us is the strong support that is established at the level of 10,100. The smaller time frames are giving me some more indication and there is a pin bar that formed on the 4-Hour time frame. I will be looking to go long at around 10,175 and place my stop loss just under 10,080. My first target is the level of 10,250. My secondary price target is the level of 10,400. From then on, it will depend on price action to see whether we would hold the position for a continuation of the uptrend, or we will see a minor correction.

Happy Trading,

Colibri Trader

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