Germany 30 (DAX) Trading Analysis

by: Colibri Trader

Dear traders,

my trading setup from last time has started showing some bullish signs. Price has already reached the first resistance zone at 0.7875.

The daily chart is not showing any bearish signals so far. I am looking at the 4H chart, as well and what I am seeing there is only on bearish rejection.

I will continue to follow this pair in the days to come. For now, my analysis is neither bullish nor bearish. If we see a breakout through 0.7875 we might see price rising up to the level of 0.8100.

Germany 30 (DAX) Trading Analysis

Today’s trading analysis is coming from the German Dax market. It has reached the level that I was waiting for it to reach. I wrote about it in this ARTICLE.

The daily candle is a bullish rejection, close to a pinbar. The resistance level from a previous high at 12,950 has been tested and rejected. I would like to see a rejection of the 13,000 level, as well.

If not, then I will be looking for a bearish signal from the 4H chart in tomorrow sessions. If such presents itself, I might consider shorting this instrument. It looks like the bulls are getting tired for now.

Happy Trading,

Colibri Trader

 

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