15-11-2018 Dax Technical Analysis

15-11-2018 Dax

15-11-2018 DAX 30 Analysis

Daily

The DAX30 posted another outside bar yesterday (higher and lower than the previous day). However, the price closed only around 25 points lower than the open, roughly in the middle of the range, creating a spinning top candle. The main observation is that we failed to break the high and failed to break the low of the Monday range, so no direction is visible yet.

The benefit of days like yesterday are that you can be rewarded with multiple momentum trades, like we saw on the DaxTrader Scalper strategy (broadcasted live throughout the day to members), which we will see further below.

Hourly

The neat series of lower low and lower highs was broken yesterday. This doesn’t suggest we have a direction change, it just suggests that the price action is no longer trending in the short-term. Some traders may be looking at the most recent three highs and wondering whether we are creating a head & shoulders pattern. The neckline would be the two most recent lows. Some traders may be seeing a range bound market and buying at the range low, selling at the range high.

I am personally happy to trade what the market offers, with no directional bias.

The Price Action

Yesterday, we opened up inside of yesterday’s value area but broke both below and above the value area range, closing back inside the value area again. 

Today, we also opened up inside of yesterday’s value area, but once again the value range is similarly low. The point of control for today is almost the same as yesterday too, so perhaps price is carving out a base here and I will be looking to see whether that provides some support or resistance, depending on the direction we break from this developing range.

 

Signals

Signals page: https://thedaxtrader.co.uk/signals  (password required)

Learn more about membership: https://thedaxtrader.co.uk/daxtrader-membership/

Reduced risk day yesterday. But there was at least a small gain on the set and forget signals. The most gain came from the DaxTrader Scalper strategy (see videos below)

# Date Mkt Type Entry SL TP RvR Close Pips Return Balance
462 14-Nov DAX S 11312 11373 11129 3.00% SL -61 -0.20% 31,334
463 14-Nov ESTOXX S 3180 3194 3138 3.00% SL -14 -0.20% 31,271
464 14-Nov DAX L 11434 11373 11617 3.00% 11556 122 0.33% 31,375
465 14-Nov ESTOXX L 3208 3194 3250 3.00% 3236 28 0.32% 31,475
466 14-Nov FTSE L 7036 7008 7122 3.07% 7086 50 0.38% 31,595
467 14-Nov GOLD L 1200       OPEN #VALUE! #VALUE!  
468 14-Nov USDCHF S         OPEN #VALUE! #VALUE!  

Yesterday morning session

Yesterday afternoon session

15-11-2018 Key Levels

  DAX FTSE DOW ESTOXX
POC: 11412 7035 25349 3203
Value Area High: 11476 7074 25412 3220
Value Area Low: 11382 7024 25090 3195
VWAP: 11432 7045 25264 3206
R2: 11680 7178 25728 3269
S2: 11171 6905 24601 3145
Pivot: 11426 7041 25165 3207
Camarilla Breakout (Bull) 11544 7105 25349 3237
Camarilla Breakout (Bear) 11265 6955 24729 3168

 

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