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DAX Trading Idea

Posted on Jun 16th, 2015

by colibritrader

Dear Trading Idea Traders

The last trading idea that I shared with you was EUR/USD. The trade is still active, but I find a bit of hesitance in the market participants. Therefore, I am considering either closing the trade or partially closing it. The GBP/USD trade is still showing positive signs. There is still no worrying sign to close the longs.

Today’s trading idea is coming from DAX. There was a major bearish rejection on the daily timeframe. The day ended up with a pin bar on a major support level. This is a very good indication of selling hesitance and the willingness of buyers to rush in and drive the price up. Tomorrow is a big day in terms of market volatility, so I advice you to be careful on your positions. I expect to see some retracement and I am looking to enter in a trade at around 11,000. The stop should be placed just under the nearest swing low at 10,790. Ideally, you should watch the intraday charts and spot an opportunity with less risk involved. I am showing such methods in my trading course, which I do use on a daily basis for minimizing my risk. My take profit would be the level of 11,350. Then it will depend on price action.

Happy Trading,

Colibri Trader

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