Hello traders and welcome to the GER30 ANALYSIS
DAX 30 Analysis
I remain bullish above 12366
We started yesterday with a webinar in which I made reference yesterday’s POC at 12275. That POC was the most significant volume area from Wednesday and was likely going to receive a touch. I was discussing that it would be a good spot for a buy. The only difficulty might have been where to place a stop loss.
At around 10/10:30am we saw a textbook Double Top around 12480 and a member of our Premium Group shared a chart with a MML (Mini Median Line – often used to forecast trend changes). It was an opportunity to get short. For our group it was like a party wave. Lots of people were riding it. So congratulations to you all.
As this bearish move started, it was easy to spot the swings. There were lower highs created at 12433, 12424, 12388 and 12370. Then we tagged the 12275 level and as forecasted, price reacted. The trend was bearish until 12370 was broken in the last quarter of the session. 12388 was also briefly tagged. So it stands to reason that we are potentially about to change direction.
Last night I was thinking “if 12275 holds, this allows somewhere to park a stop loss for a long position to target a retest of 12480 and perhaps a break through that level. If 12275 fails, then we are considering the possibility of another attempt to long on a hold of the Lower Median Line Parallel (fork LMLH) to target the same area. And if that idea fails, it’s probably best to leave the bullish ideas for now.”
This morning’s picture is a lot more bullish. We are bullish above 437 and the line in the sand for this short-term move higher is 366. There is a potential triple top forming, so be careful of a fake break higher.
16-02-2018 GER30 Analysis Key Levels
| KEY LEVELS | |
| POC * | 12420 |
| Value Area High * | 12440 |
| Value Area Low * | 12343 |
| 14 Day ATR | 298.01 |
| 200 EMA | 12656 |
| 50 EMA | 12913 |
| Daily R2 | 12579 |
| Daily R1 | 12468 |
| Daily Pivot | 12370 |
| Daily S1 | 12259 |
| Daily S2 | 12161 |
| *These are FXCM numbers, not futures numbers. Please be aware that FXCM can often be 5-10 points higher than futures prices |
FTSE 100 Analysis
I remain bullish above 7264
When you examine the FTSE100 from the daily chart for yesterday, it looks quite dull. Price opened and closed at nearly the exact same place and traded mostly inside the previous day’s range.
However, when you drill down into the price action you will see a different story. A story of two trends. These two trends both offered opportunities to trade, using tools that we use in the channel everyday.
The main exercise here is mapping out the swings. If the market is making lower lows and lower highs, it’s bearish. If the market is making higher highs and higher lows, it’s bullish. It doesn’t matter what time frame you look at, the basic behaviour is visible, without an indicator.
EUROSTOXX 50 Analysis
I remain Bullish above 3400.
The previous POC was hit. This previous POC was significant because there were three consecutive daily POCs all around the same area. I also like how yesterday’s profile was normal and filled the low volume node from Thursday. This could mean the 3400 level has a good foothold to work from.
16-02-2018 EuroStoxx 50 Key Levels
Develop Your Trading Business
TheDaxTrader.co.uk provides top quality DAX Analysis articles every day cover various topics of technical analysis from technical indicators to naked price action. We study market geometry and share our outlooks. If you want to learn more about how we trade, you can become a member today and get access to our DAX trading strategy. We trade the strategy every day and this is where we generate our DAX signals. So come and learn the strategy for yourself.
Perhaps you want to learn how to become a signal provider for yourself? If so, learn about how to send signals from Metatrader 4 to Telegram. We have produced an excellent piece of software will help you do exactly that. To learn more about the DAX, visit the Wikipedia page, you will find we are mentioned there.
