DAX in resistance zone

2 thg 10, 2017

DAX after the strong up movement reached resistance zone appointed by last peak near 12900 in June. We can see that price has drawn a few candles with long upper shadow (pinbar) and engulfing bar in that time. After engulfing price started to fall to support zone near 11900-12000, where price has rebounded up and went up to the resistance without correction. Now we are watching price action at 12900 to find supply predominance. We must be carefull with opening sell trade because DAX likes to get back many times to hit SL before it go in the expected direction.