Good morning traders!

I figured I would take a broad look at the weekly/longer term outlook first, from a macro perspective.

The global business cycle is believed to be at a low point right now, stock markets are playing recovery, Fed still signals a hike in summer months, German yields are expected to continue falling and EURUSD is expected to continue to lose as USD gains due to US growth and recovery.

My swing trades are pointing towards being long stock markets, short Euro and long Dollar. Small leverage, holding positions for a couple of weeks, maybe months.

I am working with a new strategy, based on trading my generated signals on a 1:1 reward to risk ratio, targeting approximately 100 pips on each position (or equivalent) with stop loss and take profit targets aiming for 1% of balance either way. The positions will likely be in place for a minimum of two/three days on average. This longer term style of trading will serve me well in the lower liquidity summer months, so I may as well get accustomed with it now and let you know how it goes. I will happily share my strategy and indicator for those who are interested.

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My Current Trades

Long: Nasdaq, Nikkei, DJIA, EuroStoxx and Dax

Short: EURUSD

Dax Support & Resistance

KEY LEVELS
Value High 12315
Naked VPOC 12287
24hr VWAP 12268
Value Low 12240
Daily R2 12057
Daily R1 11963
34 Hour EMA 11882
Daily Pivot 11811
Daily S1 11717
Daily S2 11565
200 Day EMA 10520

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Dax FXI Analysis

The four hour chart bottomed out Friday and congratulations to anyone who used the indicator (reviewed here) or any other indicator to get in at that point. A great entry. The daily oscillator looks interesting and I just wonder what volume of trades we saw on Friday when it reached the double bottom with the 26th March low.

1Dax - FXI Indicator

1Dax – FXI Indicator

Dax Charts

2Dax Daily Chart

2Dax Daily Chart

3Dax Intra-day Chart (4 hour)

3Dax Intra-day Chart (4 hour)

4Dax Intra-day Chart (30 minute)

4Dax Intra-day Chart (30 minute)

5Dax Intra-day Chart (5 minute)

5Dax Intra-day Chart (5 minute)

6Dax Volume Profile Chart (5 minute)

6Dax Volume Profile Chart (5 minute)