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Good morning traders!
I may find a long entry today on the Dax as price seemed to find support around 12275 and I received a buy signal from @daxtradersignal on twitter. Follow that account if you are looking for free signals.
Due to other commitments (I am in a band and we are launching and promoting an album locally), I have been taking a step back from trading and because I have not been at home as much I have been completing a lot of trades from my phone, so I have not been using my FXI strategy for a few days.
However I received a couple of messages recently asking whether I would recommend it. And without wanting to sound contrived, yes I would. I think it’s really good and I use it as part of my analysis on the website here everyday. If I was at the computer more often, I would use it as part of my trading decisions every day as well. But just to re-iterate what I have said in my review article about the indicator I think it works best if you use it for a day trade/swing trade strategy.
My outlook for the rest of the week is the same, look for chances to go long, I am considering taking the current price as the opportunity.
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Dax FXI Analysis
This is the 30 minute chart, using the ‘expert’ template on the FXI, which shows the numbered circles. I believe the higher the number (1-3) the higher the probability that price is about to reverse. It’s not an exact science, but I like the odds. The oscillator is also in buying territory. The trend on the daily chart (from previous articles) is heavily bullish so we only want to buy. Conditions look good. Learn more about this article here
1Dax – FXI Indicator
Dax Support & Resistance
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| KEY LEVELS | Difference | |
| Daily R2 | 12440 | -88 |
| Value High | 12386 | -13 |
| Naked VPOC | 12378 | 0 |
| Daily R1 | 12368 | -89 |
| 24hr VWAP | 12351 | 37 |
| Value Low | 12337 | 51 |
| Daily Pivot | 12321 | -6 |
| 34 Hour EMA | 12300 | 49 |
| Daily S1 | 12249 | -7 |
| Daily S2 | 12202 | 76 |
| 200 Day EMA | 10417 | 18 |
Dax Charts
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2Dax Daily Chart
The breakout (neckline) line would be ideal, if we can get there
3Dax Intra-day Chart (4 hour)
I like the look of the chart below, I see a buying zone
4Dax Intra-day Chart (30 minute)
5Dax Intra-day Chart (5 minute)
I found the chart below interesting once again that the volume profile YVAL from yesterday held as a key level of support. It’s a great tool!
6Dax Volume Profile Chart (5 minute)
