Chart of The Day $DAX 11-17-2017

On the DAX daily chart, we can see that the instrument is bouncing of the strong support 13000-13050 zone. This bounce, however, is in the near-term downtrend and you should take less risk entering a long position.

Note: Long trades are preferred for now with the SL below 13000. Risk reward to the recent top is 1:1.

 

DAX price action technical analysis

Happy trading! (click on the chart to enlarge it)

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