Germany 30 (DAX) Trading Analysis

@Colibritrader

Dear traders,

Last time I wrote about USDJPY. Price went up to the nearest resistance area after which it formed a bearish engulfing pattern on the daily and then reversed direction.

Currently, there is a bullish pin bar on the daily chart, but I am not seeing yet a confirmation from the 4H chart to go long.

Germany 30 (DAX) Trading Analysis

There is a pin bar that has formed on the daily chart.

After a couple of turbulent bearish sessions DAX looks to have finally found some support and I will be looking to possibly go long if I see a 4H confirmation tomorrow.

There is also a minor support level at 11825 as indicated by the chart.

Just bear in mind that there is a major support level at 11250 and that is where price might be looking to stop next.

Therefore, I will be extra careful tomorrow in case this minor support level won’t hold fast the price.

 

Happy Trading,

Colibri Trader 

p.s.

Check out my recent article on Trend Following HERE

 

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