DAX, Price Action

By Claus Andersen

13. August 2019

15 min chart:

Today price took a nice bounce to the upside. The bounce came from a DB at the low of the TR. The pattern was a bear wedge within the trading range. So it was in the right place to look for longs. 

The situation is, that price is still in the trading range. It is making higher lows and lower highs. This is a break out pattern, and I think we probably will get the BO before Friday. And I since the range has been this long it is 50/50 on the direction of the BO. We are just one Trump Tweet away from trading above 12.000 again, so remember your stops and trade management.  

Support and resistance levels adjusted on the chart.

Have a nice trading week.

Claus Andersen

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