GER 30 (DAX) Trading Setup

The GBPUSD is trading near its lows after the BOE left rates unchanged at 0.25. US dollar dropped after retail sales came in below expectations.

 

By: Colibri Trader

The trade setup from last time has a long-term potential to go lower. A few of my followers were pointing out in this direction. I am looking at this trade as a longer-term trade and have committed just a small fraction of my account to it. I will probably scale-in if the market conditions agree with my trading strategy.
GER30 (DAX) Trading Setup– today’s trading setup is coming from the German stock market. I have been waiting for a setup like this from some time now. The price is just bouncing off from the support level at 10350. The daily candle is a bullish engulfing and it definitely shows us a bullish pattern. I will be looking to probably enter in a trade at about 10410. My stop-loss would be at 10330 and my take profit zone at around 10600. My second profit zone is at around 10800(depending on price action).
Happy Trading,
Colibri Trader

 

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