Good morning traders and welcome to the 27-11-2017 Dax Technical Analysis, I trust you all had a good weekend and are ready to get back to work. I marked out a shaded zone to represent the point of ignition for the first move of the day. It acted as a swap zone later in morning. There was a fork drawn from 1, 2 and 3 which saw a median line touch, then an expansion to the UMLH (upper median line parallel). I spotted two more interesting price action movements. The first was a mini zoom back inside the fork (below the UMLH) after a mini bounce. The second was a reaction to the Center line that I have been discussing recently. It’s a speculative ACR line set and you can a chart comparison (before and after) of that one in the Telegram Broadcast Channel: https://t.me/joinchat/AAAAAEAypsW3Xet_6ngBlw.
We had a very good week last week with 6/8 winning trades gaining +384 points. The most recent trade was on Friday, during the Premium Webinar and although I closed that trade early (after price stalled 0.15 points below my target,) it would have gone on to reach the target.
The results are recorded and publicly available on the ‘About DaxTrader Premium’ page, from the menu.
27-11-2017 Dax Outlook
Today may be a day to watch out for a break of one of the two minor swing levels (below). As it’s a Monday, volume may be lower, but I will be observant for clues as to which way it will want to break. I remain bullish so will likely be looking for long setups.
See our trade history here: https://goo.gl/N6yoGK
27-11-2017 Dax Charts
60m Chart – Minor Swings
- Higher high at 13191 – need to break above this to continue the bullish swing
- Higher low at 12905 – need to hold this level to continue the bullish swing
- Currently trading on the LMLH (lower median line parallel)
- Old [grey] fork median line (ML) was tagged, but current fork ML has not
- Obvious bullish target is the median line
4m Chart – Bar Level Price Action
- Same chart as the 60m, but with more detail
- The micro swings remain bullish above 12979
- Price action is settling in between the two recent micro swings
- Three support levels currently holding price; 12979, 12906 and 12858
150 Tick Chart – Speculative ACR Line Set
- I was playing around with the idea of a speculative ACR a week or so ago. It’s playing out well
- A and B points are the original press line – this is the center line ([C]enter)
- The low of the move shows damage being done to stop losses and this is where we saw Action ([A]ction)
- Now we look for an opposite and equal reaction and target the [R]eaction line
- See how price actin zoomed through the center line and switched back on the center line from above?
Key Levels
KEY LEVELS | |
POC * | 13068 |
Value Area High * | 13152 |
Value Area Low * | 13029 |
14 Day ATR | 161.09 |
200 EMA | 12417 |
Daily R2 | 13254 |
Daily R1 | 13160 |
Daily Pivot | 13069 |
Daily S1 | 12976 |
Daily S2 | 12885 |
*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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