Dear traders,

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:

  1. There is an inside bar on the daily chart
  2. 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.

Happy Trading,

Colibri Trader

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