DAX, Price Action

By Claus Andersen

23. April 2019

15 min. chart

Price is still in a trending trading range context. The always in direction is up. Price breaks out and moves into a range. On a higher time frame that will look like a narrow bull channel crawling above the ema. A bull trend channel. The pullbacks are getting a bit deeper and eventually there will be a larger pullback. I still think that a pullback to the 12.000 area is likely. There has not been a proper test of that area since price broke above it. This is a short 4 day week and the weekly chart is looking very strong. Probably more upside before the weekend. The support and resistance areas has proven useful to manage longs and to get long to.

Support and resistance levels are adjusted on this chart.

What alternative training do you do to train your pattern recognition? I find it use full to play games. Games where scenarios play out over and over again.

Have a nice trading week.

Claus Andersen

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