From the last time I wrote about DAX, it has risen up over 1500 points.
It was a great trading opportunity for the long-term.
There was a major demand zone and a pin bar on the daily.
Since then the price has been on a steep rise.
Germany 30 Trading Analysis for the 15/11/2020
Today, I am looking at a new potential bullish setup from the daily chart.
It looks like we might see another bullish leg up.
My reasoning is:
- There is an inside bar on the daily chart
- There is a minor support below the inside bar
I will be looking for a potential long entry.
One thing I will be cautious for is the imminent supply zone.
A lot of institutional players will be looking to offset their long positions at around this level.
A lot of others will be looking to short the price at this level.
Therefore, I will have a tighter target on this one and be careful for what price tells me.