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11-04-2018 GER 30 Summary – Outlook
We are currently coiling and trading sideways getting ready for another break.
Price is currently ranging between 12330-12430 (CFD).
We have a potential multi-pivot line developing underneath price, so if this line is broken with strength (and it is not a fake break) then using an ACR line set, we can forecast a target to the short side. To find out more about ACR line sets and trading with geometry tools, come and learn more about the premium channels.
Please be careful with positions at the moment, because there is a particular person in the United States who may be a bit trigger happy over the coming days.
Check out the Economic Calendar
11-04-2018 GER 30 Summary – Levels
KEY LEVELS | |
POC * | 12389 |
Value Area High * | 12401 |
Value Area Low * | 12374 |
14 Day ATR | 224 |
200 EMA | 12528 |
50 EMA | 12372 |
Daily R2 | 12480 |
Daily R1 | 12431 |
Daily Pivot | 12383 |
Daily S1 | 12334 |
Daily S2 | 12286 |
*These are FXCM numbers, not futures numbers. Please be aware that FXCM can often be 5-10 points higher than futures prices |
11-04-2018 Dax Charts
This 20-minute chart is showing a large bullish fork, starting from the beginning of March. Notice how price attempting to break the bottom of the fork (the lower median line parallel), but couldn’t make any progress.
Andrew’s says that there is a high probability of price reaching the median line. However, we are still below that target and we are beginning to form some interesting price action. Notice how we are coiling up into this wedge? It seems that we have something developing there.
Another fork-based chart here. This one is a 1000 tick chart and shows how price is respecting the upper median line parallel (UMLH). Notice how we gapped through the UMLH, then tested it, but are still trading higher?
This is the multi-pivot line I discussed earlier:
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