We have seen the Bears in control for some time on DAX, breaking both the inner and outer Trend lines, signalling strength to the downside. However the Bears failure to reach 10600 indicates that they are exhausted.
From the open this morning DAX has smashed back upwards through the Outer Trend line a good signal that the bias has now changed.
For me personally I am waiting for price to retrace off of the strong resistance zone at 11300 and I will be looking for longs if Price Action indicates rejections off of the Outer TL.
We must take in to consideration that the Greek crisis (should) be coming to a close this Sunday when Tsipras' reforms will either be accepted or denied by creditors. Although I am strictly a fundamental trader, if you're trading DAX you must be aware of the situation as it is drastically moving the market. For me personally I will not be holding any positions over this weekend.
From the open this morning DAX has smashed back upwards through the Outer Trend line a good signal that the bias has now changed.
For me personally I am waiting for price to retrace off of the strong resistance zone at 11300 and I will be looking for longs if Price Action indicates rejections off of the Outer TL.
We must take in to consideration that the Greek crisis (should) be coming to a close this Sunday when Tsipras' reforms will either be accepted or denied by creditors. Although I am strictly a fundamental trader, if you're trading DAX you must be aware of the situation as it is drastically moving the market. For me personally I will not be holding any positions over this weekend.