Morning traders. Today, during the briefing, we discussed how to map the market using swings and balance points. The markets move in swings. Every market moves in swings, including the Dax. Swings are like waves, they follow particular behavioural patterns and these patterns can be identified with practice. So today we practised those techniques.
I won’t go into much detail, because I will save all that good stuff for the premium channels and the online courses included within the premium membership. So be sure to watch the video below.
Make sure to check out the economic calendar.
17-04-2018 Dax Outlook
The Dax is still technically bullish, forming higher highs and higher lows on the 20-minute chart. I am watching for whether or not we are forming a new P4, to help me forecast a potential P5.
As for yesterday, the minor swings from yesterday were clearly bearish. We formed lower lows and lower highs. There were some interesting balance point observations in the middle of many of the impulse waves too. However, towards the end of the session, there was a change in behaviour, leading to a swap.
Today I am watching for whether or not this swap turns into something with momentum.
17-04-2018 Dax Key Levels
| KEY LEVELS | |
| POC * | 12426 |
| Value Area High * | 12457 |
| Value Area Low * | 12391 |
| 14 Day ATR | 203.83 |
| 200 EMA | 12523 |
| 50 EMA | 12376 |
| Daily R2 | 12560 |
| Daily R1 | 12491 |
| Daily Pivot | 12436 |
| Daily S1 | 12367 |
| Daily S2 | 12312 |
| *These are FXCM numbers, not futures numbers. Please be aware that FXCM can often be 5-10 points higher than futures prices | |
17-04-2018 Dax Video
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