DAX, Price Action

By Claus Andersen

28.Oktober 2019

15 min chart:

Bulls are in control. Over the last two weeks price pushed up from 12.400 too barely 13.000. This is after price broke major resistance. This makes price AIL(always in long) on the 15 min chart. If you look at the ATR you can see volatility has gone down since last week. Slowly but surely price is pushing higher. This can mean several things. A slow protracted movement with no or small pullbacks are strong. When this is the case I look for a exhaustion climax to manage profits. It can also be a loss of momentum, but still we are not looking to pick the top. Don´t look to sell before the price has changed away from AIL.

The support and resistance areas have been adjusted as you see in this chart.

15 min chart:

Have a nice trading week.

Claus Andersen

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