Looking at the daily timeframe on the DAX, we can observe that the market left us with an inside day yesterday. This means we can apply some of the “rules” of an inside day which would be this one for today:

Market explores upside breakout and is met by aggressive sellers; prices fail to be accepted above the breakout. Fade the price probe failure—the potential target is for rotation to the opposite end of balance.

The market broke out to the upside and the previous day’s high got taken out. You can see the selling tail of the 8.00am (London/GMT) candle which indicates the market met some aggressive sellers. However, my potential trade level was at a higher altitude and the price action from the 5 minutes chart did not provide me with any sufficient clue to selling this market. The mentioned level got somewhat retested later in the session and the price action got me into a currently profitable short-term trade. Sure, the target of this would be the other side of balance but a 50% pullback of this upside move would be a better target for me. Let’ see. 

That was quite a simple analysis and trade approach for today but why bother with complexity with such a probability pattern which quite often happens in various markets.