26-11-2018 Dax Technical Analysis

26-11-2018 Dax Analysis

Useful Links & Resources

SIGNALS RESULTS
https://thedaxtrader.co.uk/daxtrader-signals-results/

ECONOMIC CALENDAR
https://thedaxtrader.co.uk/economic-calendar/

DAX-RELATED NEWS
https://thedaxtrader.co.uk/dax-news-feed/

LIVE DAX CHART
https://thedaxtrader.co.uk/dax-chart-interactive/

POSITION SIZE CALCULATOR
https://thedaxtrader.co.uk/calculator.html

TELEGRAM CHANNEL: More Analysis
https://t.me/DaxTraderChannel


26-11-2018 Dax Analysis || Daily Chart

Good morning traders. I think the daily chart does a pretty good job of showing the main areas of interest right now on the German DAX.

The double bottom around the 11k mark is one of the key observations right now.

But the other key observation is the current break through the downsloping high-to-high trend line.

Three Types of Trade

(I talk about this in a lot more detail in the swing trading course)

When price approaches these kinds of overhead lines, it leads us on to anticipating one of three types of trade:

  1. Push trade (price bounces lower from the underside of that down-sloping line)
  2. Expand and reverse trade (price breaks that line, but continues lower – basically a fake break)
  3. Expand and continue trade (price breaks that line, holds it, and then reverses higher)

Technically, we have pierced it the downsloper already. And if we ‘snap’ the line to the highs of the first few candles (highlighted with circles), it shows a stronger pierce of that downsloper. Therefore it looks to be option 2 or 3 right now.

Option 2 allows sellers an opportunity to get a decent sale price, but it’s difficult to park a stop loss behind any structure unless they’re comfortable with a 400 point stop. Perhaps one of the previous daily highs will provide some ideas for a more aggressive stop loss.

Option 3 would mean waiting for a correction of today’s early bullish move. Perhaps a gap close, or just a test of the 11100. This option allows many obvious stop loss options. There is plenty of structure underneath.

But which camp are you in?

26-11-18 Dax Analysis || Hourly Chart

 

Key Levels

  DAX FTSE DOW ESTOXX
Point of Control :  11173 6938 24363 3131
Value Area High :  11185 6965 24395 3138
Value Area Low :  11139 6927 24321 3125
VWAP :  11160 6954 24360 3130
R2 :  11279 7026 24516 3161
S2 :  11044 6873 24146 3097
Pivot :  11161 6950 24331 3129
Camarilla Breakout (Bull) 11246 6989 24391 3148
Camarilla Breakout (Bear) 11117 6905 24188 3112

Economic Calendar

Useful Links & Resources

SIGNALS RESULTS
https://thedaxtrader.co.uk/daxtrader-signals-results/

ECONOMIC CALENDAR
https://thedaxtrader.co.uk/economic-calendar/

DAX-RELATED NEWS
https://thedaxtrader.co.uk/dax-news-feed/

LIVE DAX CHART
https://thedaxtrader.co.uk/dax-chart-interactive/

POSITION SIZE CALCULATOR
https://thedaxtrader.co.uk/calculator.html

TELEGRAM CHANNEL: More Analysis
https://t.me/DaxTraderChannel

 

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