Today’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.
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.