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Germany30

Germany 30 Dax Trading IdeaToday, I am looking at the Germany 30 DAX index. It looks like that there might be a continuation of the current trend. Today’s daily candle is a small bullish engulfing candle with a bearish rejection wick. This indicates bullishness, so I will continue monitoring this instrument. For now, the intraday charts are more bullish than bearish, but this does not mean that we are going to see a breakout straightaway. I will be possibly looking for a bullish confirmation from the 4H charts tomorrow. I will be looking for a bearish rejection or a bullish engulfing. I might consider taking a long trade tomorrow after the market opens. In case I do, my first target will be the level of 13,100. Then, it comes down to price action to decide whether to hold on to a trade or to cut it.
FX:GER30Long
by colibritrader
Germany 30 (DAX) ShortToday’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 lat week on my website. 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.
FX:GER30Short
by colibritrader