Morning traders, I hope you all had a good weekend. Welcome back. Let’s jump into the charts, starting with the daily and then working down. After the charts there is a video summary from this morning’s webinar.
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24-09-2018 Dax Daily Chart
Daily chart approaching the down-sloping high-to-high channel resistance. How significant might that be based on the acceleration on Friday? Zoom higher or bounce lower? We’ll soon find out.
24-09-2018 Dax 60m Chart
If we split up the two halves of this recent #FDAX major bullish reaction wave, we can see declining volume between the first half and second half of the move. Despite the second half of the moving more points that the first.
24-09-2018 Dax 10m Chart
Here is a composite profile for the entire bullish reaction wave. A simple idea I had was a first break towards 300-320, bounce back to the 380 before, continuing to the downside to form short-term a series of LL LH.
Here is a composite profile for the entire bullish reaction wave. A simple idea I had was a first break towards 300-320, bounce back to the 380 before, continuing to the downside to form short-term a series of LL LH.
Friday’s Price Action
We are now back at the underside of the Friday value area after gapping lower first thing. 390 is the POC from Friday and reaching that level would also represent a gap close.
