Hello traders. The featured image is the daily chart. Yesterday we saw a break lower on three separate timeframes, the daily, H2 and m5 charts and the profile chart. There are patterns that I have been watching for a while. I am a bullish trader normally, so I am barely trading at the moment. In the webinar this morning we looked at various levels to watch for opportunities. We have bullish divergence appearing at the 100% extension of a move lower, is that a chance to take profit, or buy? What are the best spots to sell? Are there any other opportunities to trade? Watch my video here to find out:
Dax Video
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Dax Charts
Daily
- Bearish breakout below the ascending triangle support
- Support cluster: Kumo cloud, 12500 and 12400
01 Daily Chart – Dax Technical Analysis
H2
- Bearish breakout – Bullish Channel has broken to the downside
- We are approaching the 100% extension level @ 12561
- The smaller rising trend line could provide resistance near 12725
02 2 Hourly Chart – Dax Technical Analysis
m5
- Bearish breakout below wedge formation
- Currently below the 2.5 standard deviation band (dotted line)
- Bullish divergence here suggesting a move may be about to end
03 5m Chart – Dax Technical Analysis
Market Profile
- The software is ATAS (premium version), to find out more or download a demo version, go here
- Bearish breakout, again, below the value area low from yesterday
- Value area low from yesterday may act as resistance
- Low volume pocket between 12620-12650, if price that far
04 DAX Market Profile
