DAX, Price Action

By Claus Andersen

4. March 2019

15 min. chart.

Price is still moving in the larger bull channel. It did fail to reach the bull channel line. That often leads to a break of the trendline. Price was in a steep bull channel when it broke to trendline and re-tested the high. Made a DT and sold off. In today’s trading price made a significant bear leg. A leg as strong as that often has a second push. That plays along nicely with the notion of a broken major bull trendline. I would not be surprised to see 11400 again this week. When that is said, everything is possible. But I favor the sell side short therm.

Support and resistance adjusted on this chart.

I have had a hard time getting started this year. I have been in this position before and always pulled myself out of it. It comes down to having good sparring buddies in trading. If you don’t already have a partner in crime when it comes to trading. Make an effort to get one. It really is tremendously valuable in the hard times.   

Have a nice trading week.

Claus Andersen

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