DAX, Price Action

By Claus Andersen

15.January 2020

15 min chart

Crazy bull week last week! And then the DAX GER30 changed gears. This week so far was a trading range context. No exciting trades or breakouts. The break lower on Tuesday was the best attempt of a BO but it failed to. What I can say about this is, that price followed a clear bear trendline. Price bounced from that at least 5 times already. Bears have difficulties pushing lower with strength. That fact and the fact that price failed to reach the all time high makes me believe that the highs might get another test later. When will it come I don’t know. The support and resistance areas are much more valuable in this context than in last weeks bull push. It will Price also failed to reach the channel line. That could mean that bulls are gaining momentum.

Support and resistance was adjusted in the latest YouTube video:


Let’s level up together 📈
Claus Andersen

AIL = Always In Long
BO = Breakout
FBO = Failed Breakout
PB = Pull Back

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