For the last few days we are observing on DAX
a strong fall without correction. On session in November 13th price has touch support level
and bounced up for near 150 points and drew bullish pinbar
, but this didn't stop further price dropping. Today price has tested once again support level
and went lower where buyers came out. This could beclassic hunt for stop loss characteristic for DAX
. Question is if big players bought there? If yes, than we could see on the next sesssions defense of this level. This could be a good opportunity to open buy order. Looking for a bullish pin bar
of November 13th which was negated we will wait for more signals to buy. If support zone
at 12900-12960 will not be defended, price could drop at least to 12500 - 12300.