Dear traders,

Last time I wrote about Gold.

Not much has happened since then.

Gold has been trading in a tight range and looks like there is no bullish or bearish indication at the time of writing this.

`If price reaches down to 1680, this would be an area to closely watch.

For the time being, I will stay put.

Germany 30 (DAX) Trading Analysis 12.10.2021

Today, I am looking at DAX.

It looks like DAX might be getting ready for a new high.

Today’s trading range has been quite tight.

Price is sitting just above a major supply zone.

The question a lot of traders are asking now is whether we will see a re-test of this supply zone.

My expectation is that we might see a drop to that zone.

But before that, there is a possibility that we might see a bounce back higher.

Reason being is there is a daily pin bar, which reflects some bullish readiness.

The question is if this will not be a short-lived buying opportunity.

I will be monitoring the 4H chart and if there is a retracement back down to 15050 and a bullish candlestick confirming this level, I might consider going long.

Until then, I will be waiting on the sidelines.

Happy trading,

Colibri Trader

(Visited 368 time, 1 visit today)