Good morning traders and welcome to the 06-12-2017 Dax Technical Analysis. One signal was sent yesterday; a short from 13029 to target 12940. You can find out more about the trading history on this page: https://thedaxtrader.co.uk/about-daxtrader-premium/

Conditions are difficult at the moment, I think the volatility is definitely what attracts traders to the Dax, but it is also the main reason for why inexperienced traders lose all of their money. At times like these, it can feel like a gamble and I prefer to keep my powder dry because the casino is for gambling, trading isn’t.

Let’s assume that the bears are in control at the moment. What can we reasonably expect if it continues?

Targets to the downside: 12500-12600

During the premium webinar this morning I pulled a number of different tools over the price action. The tools included the following (related to Chart 2 below):

  • Fibonacci expansion from F, G and the retracement
  • Balance point from F and put the 50% line through the gaps
  • Fork from F,G and the highs

All of those tools share this zone in common so would likely be very popular targets for traders who are shorting. As for the entries, well that’s down to your personal trading plan to decide. Popular entries are the upper median line parallel on the fork of Chart 2. Come and chat to us about Alan Andrews’ work, if you do not understand the terminology.

 

New Subscribers

Have you recently subscribed to DaxTrader Premium? If so, please head over to the Welcome Page and enter the password you received when you registered. The welcome page should explain everything and get you up to speed.

If you are not sure of the password, just drop me a message, and I will send it again. You can contact me by email or telegram (@daxtrader)

To receive more DaxTrader updates, visit the free Telegram Broadcast Channel is available here: https://t.me/joinchat/AAAAAEAypsW3Xet_6ngBlw sometimes it is easier to access this channel from a mobile, rather than a computer.

06-12-2017 Dax Outlook

Majors (Chart 1)

The major swings are still under pressure with the price action threatening to break to the downside. We are still currently inside a large value area ranging sideways and waiting for the next leg. The two potential target areas are still valid.

Target Zone 1 is the bullish case. The bullish case is based on price action reaching the UMLH (upper median line parallel) and the P0 to P5 expansion.

Target Zone 2 is the bearish case. The bearish case is based on price action reaching the LMLH (lower median line parallel) and a ZigZag pattern from the P5 high, with the current sideways price action acting like a 50% balance point. The target zone 2 is the extension of that Zig Zag.

Minors (Chart 2)

There is not much to say here other than the ACR line set is currently holding price. We wait for confirmation of the next trend.

06-12-2017 Dax Charts

Dax Chart 1

Dax Chart 2

06-12-2017 Key Levels

KEY LEVELS
POC *13026
Value Area High *13057
Value Area Low *12996
14 Day ATR174.45
200 EMA12450
Daily R213154
Daily R113080
Daily Pivot13019
Daily S112944
Daily S212883
*These are FXCM numbers, not futures numbers. Please be aware that FXCM can often be 5-10 points higher than futures prices

Subscribe to DaxTrader and Join The Community

DaxTrader Premium

If you want to develop as a trader and adopt a professional mindset, then you are at the right place. If you wish to receive excellent analysis and indications on the high probability setups, then come and join the DaxTrader community. We have many active members contributing towards the DaxTrader community with setups, charts and ideas. As a premium member you will have access to:

Live Trading Signals

When a trade opens on our account, we share the information directly to the signals channel. We provide information including the entry, the stop loss, the target and the date/time. Premium members get access to DAX, FTSE and occasionally S&P500.

Our software sends the signals directly to your phone using Telegram messenger and thanks to our engineering, the delay between us opening a trade and you receiving it to your phone, is around 0.6 seconds.

The Journal

The Journal allows me to be transparent with my trading. We keep records of the trades and signals we send. We provide context for each trade, chart and reasons, trade management plans and updates here in the Journal.

The Charts (live)

I broadcast my charts for the majority of the day, which you can access and see what we are working on. You can view the charts from a tablet or smartphone as well as a computer

The Chat Room

Participate in the member’s chat room with charts and ideas, improve your analysis and pick the brains of other experienced traders.

The Webinars

We have some excellent content to share in the webinars to help you understand the strategies and tools used by Dax traders. These strategies and tools are incredibly useful on the DAX and quite easy to start to understand. They don’t require expensive software either. The experience available in the webinars is excellent with guest webinars weekly.

FIND OUT MORE ABOUT MEMBERSHIP

Please share this content if you enjoy it: