Here is an interesting question for you: since the Eurex extended its opening hours, is there a new pattern emerging on the DAX? Specifically I am talking about the price action (around the cash open) on days with a quick rally. And what happens to price action the following day. If you go to the charts at the bottom of the article, the very last chart is the one I am referring to, we can see just how similar yesterday’s price action was to that of a couple of days before. The Asian session range was broken to the downside on both examples. There was a single Q print which is the auction process rejecting lower prices. The rally began at this point in both examples. Watch the video below for more insight.

Dax Summary

  • Five consecutive bullish daily candles and this morning the market has already pierced the high from yesterday
  • Pennant forming with a clearly defined range, visible on the hourly chart below
  • Large low volume ‘void’ underneath current price action which highlights the obvious pullback zones, see the profiles chart
  • The nearest exposed POC (on futures) is 12040 to the downside
  • Yesterday was a ‘P’-shaped volume profile but still a small range overall (under 100 points)
  • The spread of price action yesterday was almost identical to a few days ago
  • This morning’s cash open took out both stops on both sides of the pre-market range
  • Yesterday’s early rally made a VWAP retracement strategy more effective

Dax Outlook Video



Dax Key Levels

POC :  12112.5
VAH :  12115.5
VAL :  12098.0
VWAP :  12099.9
R2 :  12179.5
S2 :  11987.7
Pivot :  12083.6
High : 11655.9
Low : 11562.8
Point of Control :  12130
Value Area High :  12135
Value Area Low :  12115
VWAP :  12115
R2 :  12199
S2 :  12004
Pivot :  12101
High :  11653.0
Low :  11560.0

Dax Technical Analysis Charts

New Pattern Emerging On The Dax

New Pattern Emerging On The Dax 2

New Pattern Emerging On The Dax 3

New Pattern Emerging On The Dax 4

New Pattern Emerging On The Dax 5

New Pattern Emerging On The Dax 6

This is the chart I was using to ask the question of whether we have a new pattern emerging on the DAX.

New Pattern Emerging On The Dax 7