Dax Technical Analysis 31/03/2016 part 2

Good morning traders!

Early morning sell off has stopped me out of my long trade from yesterday, which I held overnight. I mentioned before that I would be happy to re enter again at 9950, but we haven’t got there yet. Instead, I jumped the gun a little and got in @ 9990, whilst the market still seems to want to move down.

My thinking is that 9950 is the 50% fib from the swing of yesterday and it’s also an area of previous resistance which may now act as support. I also thought I may have missed the boat at the low of 9957, so I could be accused of a FOMO trade with this one (fear of missing out).

Bulls

Looking to go long from between 9915-9950 (fib zone)

Looking to go long from 9850 (last stand before trend defining level is taken out)

Looking to go long on a break above resistance 10100+

The hourly chart parallels are interesting, especially number 2

Bears

Still in control today

Looking to short from a 10030 (underside of short term support)

Looking to short from 10080 (underside of key resistance)

DaxTrader RSI Version 3

I initially set April 1st as the launch for the new software. I am moving this back to May 1st. I would still like to test software further as the first wave of testing provided a few actions to deal with. These are being worked on as I type this message and I should be able to get a few of you guys involved with testing the software out again. Please let me know if you’d be interested in helping me with it.

DaxTrader Signal Service

I am in the process of testing a Dax trading signal service, this will be a premium service which I am looking to deliver by the summer, however I need a few volunteers to test the signals for me.

The service will deliver trading signals to WhatsApp

It will also feature the option of Forex signals, but for now, just the Dax.