Dear DAX Trading Signal Traders
The DAX trading signal from last week was almost perfect. Unfortunately, we got stopped out just below the stop and then the price turned up again. Sometimes, being stopped out just a few points below your stop is part of the game. You should take all losses with a grain of salt and move on. Always be looking for new opportunities and if you don’t see such, just sit and wait.
Fortunately, today there is another trading signal from DAX. The price has spent some time navigating below and above the level of 10,000. I believe that the price action is showing a firm indication of the hesitance of sellers. There is a bearish rejection candle, which ended the day as a small pin bar. This is giving me a bullish indication that there are more buyers that are getting ready for a more bullish action. I am looking to enter into a long trade at 10,150. My stop loss is placed just under the level of 10,045. The first price target is the level of 10,400. Then, it will all come down to the price action to see whether there is more bullish bias in the market participants or not.