27-11-2018 Dax Technical Analysis

27-11-2018 Dax

Good morning traders and thank you for stopping by to read the 27-11-2018 Dax Technical Analysis.

The new intra-day trading article is up: https://thedaxtrader.co.uk/week-48-intra-day-trading-results-2018/

Despite only trading the afternoon session, there were a couple of decent opportunities. So this was a positive from yesterday. 

Yesterday was clear breakout & trend day, but unfortunately for us, the breakout occurred within the first hour of trading, if we include the gap as well. We stayed way above the profile from Friday, with no attempt to retrace. So today, we see yesterday’s profile sitting right above Friday’s.

Daily Chart

Yesterday in the article (https://thedaxtrader.co.uk/26-11-2018-dax-technical-analysis/) we started discussing the “three types of trade” and related it to the current daily chart for the German DAX. With yesterday’s close of 11380 (CFD), we comfortably broke the downsloping high-to-high trend line that seems to have controlled price action for the past couple of months.  This would be considered the ‘expansion’.

The next step is see how we react to any pullback towards that line. (Go back to yesterday’s article to review the three types of trade)

Hourly Chart

The chart below shows the majority of November’s price action. On the right hand side of the chart you will see a composite volume profile. The composite volume profile was drawn using the visible price action. The darker grey shaded section of the volume profile is the value area of that price action. Right now the main observation is that we are back inside the value area, however we have found resistance at a previous high of 418. We spiked into the 418 earlier this morning but higher prices were rejected.

Key Levels

  DAX FTSE DOW ESTOXX
Point of Control :  11332 7042 24631 3173
Value Area High :  11359 7049 24669 3182
Value Area Low :  11315 7016 24528 3170
VWAP :  11336 7025 24553 3173
R2 :  11478 7101 24870 3205
S2 :  11206 6951 24150 3137
Pivot :  11342 7026 24510 3171
Camarilla Breakout (Bull) 11455 7090 24728 3199
Camarilla Breakout (Bear) 11306 7008 24332 3161

Useful Links & Resources

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

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

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https://thedaxtrader.co.uk/dax-chart-interactive/

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

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