28-03-2019 Dax Technical Analysis

28-03-2019 Dax Technical Analysis

Yesterday was a good day for me, despite starting the day with two stop losses. The following three trades netted a strong gain to the account and I was able to stop trading before lunchtime. This is always the goal. Congratulations to you members following the trade signals. March is now into double digit growth, which I am very pleased with.

Daily Dax Technical Analysis

Yesterday’s daily candle was a spinning-top doji, which normally suggests indecision in the market. So today the attention will probably be on watching which direction it breaks. I have drawn a fork on this chart from the three most recent pivots. Notice how price reacted to the median line there? I wonder if we now see a bit of momentum here to challenge the trend-defining level of 640.

Hourly Dax Technical Analysis

The trend-defining level is 11640 as this was the most recent ‘confirmed’ lower high and the market remains bearish (technically) under this level. So although we are currently seeing a reaction leg from the 285 low and the minor swings are still in place (higher highs and higher lows), the overall trend dominates. Watch for a break of the channel.

Dax Profiles

Yesterday we put in a decent base at the value area low, with the zone of 379-395 marked out as potential support. We also saw a rejection at the daily high of 521, so let’s see if that area fails again today.
This morning’s auction has already seen a rally up to the point of control and I am looking for us to test that 496-522 zone (the rejection zone from yesterday’s high)

Dax Key Levels


Point of Control :  11475
Value Area High :  11495
Value Area Low :  11420
VWAP :  11445
R2 :  11593
S2 :  11315
Pivot :  11454
High :  11653.0
Low :  11560.0


POC :  11470.0
VAH :  11485.0
VAL :  11411.0
VWAP :  11435.2
R2 :  11582.2
S2 :  11306.5
Pivot :  11444.4
High : 11655.9
Low : 11562.8