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.
