Dax, Price action

By Claus Andersen

26. February 2020

15 min.

Bears took control as the corona panic spread. When price is dominated by one side we as daytraders have to trade with the move. So getting short at almost any opportunity would have gotten you money the past week. Great runners and great add-ons. Now price is breaking out of the most recent bear channel and that could mean a change of context. The move down was so strong that another test of the low of the move is most likely. 

15 min.

On this daily chart it is clear that price has reached a measured move on the pullback. And it is at major support. Probabilities are that price at least will pause here. We will have to wait and see. But we already got a nice prof with the bounce today.

Trade smaller and more carefully when volatility is this high. 

A bit more detailed analysis in the video below. 

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

Skriv et svar

Din e-mailadresse vil ikke blive publiceret. Krævede felter er markeret med *