Hello traders, welcome to the 16-04-2018 Dax Technical Analysis including news, key levels and morning briefing video.
First things first, we are still in a bullish trend on the 20 minute. We can see this trend if we use the basics of identifying swings. Let’s start back on the 26th March, using the low which formed around that time. From this low we can follow price action on a series of higher highs and higher lows.
Our most recent high is 12530 (CFD prices) and price needs to go ahead and take that out in order to confirm the recent lows and new higher low. Once these higher lows are broken, we may have a change in behaviour, this should alert traders.
The profile chart shows two types of interesting information: high volume areas and low volume areas. Whenever we see low volume areas, it provide information to traders that price may look to ‘fill’ those areas. Most of those low volume areas formed last week on Wednesday and Thursday.
However, it’s less likely that we reach those levels without something significant happening, because the high volume areas are providing support. The high volume areas display areas where the price was balanced and happy to do business, so you could expect to continue seeing demand at these levels.
16-04-2018 Dax Video
16-04-2018 Dax Key Levels
KEY LEVELS | |
POC * | 12447 |
Value Area High * | 12481 |
Value Area Low * | 12421 |
14 Day ATR | 212.74 |
200 EMA | 12524 |
50 EMA | 12374 |
Daily R2 | 12592 |
Daily R1 | 12522 |
Daily Pivot | 12461 |
Daily S1 | 12391 |
Daily S2 | 12330 |
*These are FXCM numbers, not futures numbers. Please be aware that FXCM can often be 5-10 points higher than futures prices |
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