Dear Trading Idea Traders

It has been a while since I haven’t posted trading ideas. Today’s trading idea is coming from DAX. As many of you know, that is one of the major markets I trade and that is why you keep on seeing quite a few trading ideas coming from here.

Today’s trading idea is reflecting the hesitance of the sellers to continue pushing the price lower. There was a daily bearish rejection from price action point of view. The daily candle resembles a pin bar, although it is not precisely one. Anyways, I believe that it is good enough formation to lead a lot of market participants to add to their long positions in the trading sessions to come.

For my long entry, I will be looking to buy at around the current market price at 11,916. My stop would be placed just under 11,783, where is the nearest swing low. The primary target would be the level of 12,200. Then, it comes down to price action to decide whether to leave the position open, scale in, or take profit. The scaling in approach is covered in my trading course.

Happy Trading,

Colibri Trader

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