Dax 30 – Pullback Setup After All Time Highs | May 28th

Dax 30 – Pullback Setup After All Time Highs Printed
After 5 days of bullish closes, the German index finally printed a bear bar, which seemed appropriate as it has made all time highs while coming close to the big figure at 10000. I’m looking to trade with the trend here until I see otherwise, and the bearish close today doesn’t muster that feeling as its not aggressive enough to suggest the bull trend is over, or that the bears have taken control.

Our Trade Idea: Look for a pullback setup around 9800/9785 with stops near the daily 20 EMA. Upside targets will be 9950 and 9995 taking profit just shy of the 10K mark which looks to be tagged in the near future.

dax 30

Read our article Don’t Trade Forex Unless You Do These 4 Things

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Verified Profitable Trader

Hi, I'm Chris Capre, Founder of 2ndSkiesForex. I've turned $3,000 into $83,000 in my first 6 months of trading. I'm a verified profitable trader and trading mentor. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18yrs of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.

Related Article