Welcome to the 09-11-2017 Dax Technical Analysis. The most interesting news story from yesterday was not about the Dax, but actually regarding BitCoin. The Segwit 2x hard fork, estimated to take place on the 16th November has been pulled due to lack of consensus. So now we have a battle between traders and investors. Many ‘traders’ believe the currency now lacks value at inflated prices because there will not be a dividend from the fork so will want to sell. Many ‘investors’ believe the integrity of the currency has been restored making it more value so will want to acquire more. to the failure of the fork
09-11-2017 Dax Outlook
The Dax is currently in a major Bullish swing and longer-term targets remain as 14,000 so overall we are looking for opportunities to buy the dip. Currently, the market is overvalued and there is a zone between 13200-13225 that looks the most interesting for a short-term dip.
We will likely open up above the daily pivot today, unless we get a gap, but staying below 13430 is interesting for sellers.
Considering the normal daily movement price ranges, we are interested in the following levels:
Selling @ 460
Buying @ 310
09-11-2017 Dax Charts
TPO Chart
- The unusual profile from Tuesday gave up the low volume node, but held the daily low
- Price action from yesterday was more of a normal distribution, roughly half the size of the previous day’s range
- Taking out the gap below is the most obvious goal for shorts, with the shaded zone and POC the likely target
09-11-2017 Dax Chart 1
500 Tick Chart
- Price action is currently moving sideways building support just above the gap.
- If this level gets ‘zoomed’ lower, then a possible short on a retest is interesting.
09-11-2017 Dax Chart 2
TPO Chart
- An eventual retracement back to the previous consolidation zone is our preferred outcome.
- The current move towards that goal could follow a Zig Zag balance point pattern
- 200-225 is the most interesting short-term zone
09-11-2017 Dax Chart 3
09-11-2017 Dax Key Levels
| KEY LEVELS | |
| POC | 13374 |
| Value Area High | 13399 |
| Value Area Low | 13428 |
| 14 Day ATR | 107.85 |
| 200 EMA | 12340 |
| Daily R2 | 13462 |
| Daily R1 | 13427 |
| Daily Pivot | 13386 |
| Daily S1 | 13351 |
| Daily S2 | 13310 |
| *Please be aware that FXCM can often be 5-10 points higher than futures prices | |
Subscribe to DaxTrader and Join The Community
If you want to develop as a trader and adopt a professional mindset then you are at the right place. If you want to get excellent analysis and indications on the high probability setups, then come and join the DaxTrader community. We have a number of 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
This allows us to be transparent with our 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 own 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 effective 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.
