In todays video I talk you through two trades that I identified on the DAX 1 minute chart.
We start with premarket analysis a few minutes before the Dax opens at 8am UK time. I always use the higher timeframe charts in order to get an overview of recent price action.
The longer term uptrend is pausing currently and we are seeing a retrace from the all-time highs. Last week the DAX broke the uptrend trendline and bounced off it from below. This is a sign that lower prices are likely in the short term.
We are able to draw a few support and resistance levels that may be of use to us during the first couple of hours of trading this morning.
The market starts the day in a trading range that has persisted over the weekend and in the early hours of premarket trading today.
I explain the type of action that I am anticipating when the market opens.
We then fast forward to the end of the morning trading session and using the DAX 1 minute chart, I explain in the video below the two trades that I took. I explain the reasoning and the entries and exits for the trades. The video contains trading analysis of a broadening wedge and a triangle.
I hope that you find the video interesting and useful.
If you are interested in learning to trade then I’d be delighted to show you how. Take a look at our online Trading Courses.