DAX, Price Action

By Claus Andersen

26. August 2019

60 min chart:

Possible Shoulder head and shoulders pattern forming on the 60 min chart. The pattern is not triggered yet but I am watching. Often a Shoulder Head and Shoulders pattern does not trigger and is simply a continuation pattern. 

15 min chart:

Last week the DAX traded in a trending trading range pattern until friday where support was broken. The bear move closed the week on the low. Now it will be interesting if the low will get another test and what will happen below that low. As we see on the 60 min, then it could be a reversal and a higher low. 

New support and resistance levels on this chart. 

Have a nice trading week.

Claus Andersen

Article Name
Dax, Price action
Publisher Name
Tim Skovbo

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