Two possible scenario for DAX. We closed two gap. Retest last high and continuation bullish scenario (blue arrows). Or we will break the minimum of the last week and continue moving down (pink arrows). Let`s see. I will comment on the idea, as events unfold. Thank you for your attention.
Dax touched resisstance and making a triangle just like a year ago see old analysis i would go long at the breakout. So i keep my eye on this one again Happy trading
~ Hourly diamond formation on the german DAX. The daily trend is upwards, climbing to the top of a canal. I will wait for the breakout though as any good trader would, and would indicatively state 11960 as a target if bull breakout, and 11540 if bearish breakout. Cheers ;)
Positioned short, watching out a possible breakout.
Just think this is a normal back test, but you never know these day's.....maybe Trump sends out another tweet the DAX is overvalued and I am screwed..........:-) We will find out soon........
Volume has picked up and we have tagged both the previous range resistance and the 50-61.8 retracement zone, assuming we're in a bull flag, surely this is a buying signal? Or should be wait for 11650?
This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... .zip (with PDF`s) @ my Google Drive drive.google.com 4XSetUps for next week - friday close (DAX 30 Index & all shares) Best regards :) Aaron
We've had a 1000 point rally on the Dax, but haven't really seen much of a pullback or correction. Looking at this volume profile, I am wondering whether a break below 10400 opens up a move back to the higher volume area of 11275. Perhaps this is a spot for bulls to add to their position. I think we are bullish above 10222. But if 10400 holds, we could continue to...
We were trading in this range for much of November '16 and I was frequently asking "which will we hit first, 10500 or a break above 10830?" Well, the answer was 10500; thanks in part to the uncertainty caused by Italy. Now, however, we have recovered all of the losses and are now way ahead, can we build from here and break out to the upside?
If we look at the volume profile (15-minute chart showing the last month) and focus on the higher volume areas, we can draw these four zones that may act as potential support levels if price breaks lower. The issue with predicting these support levels is the Italian referendum result is likely to cause volatility.
If you were short-term bullish and looking for a long position, this could be interesting. The position requires a pullback to the Value Area Low of this Volume Profile (visible range) before rallying up to recent resistance. The stop loss would be just below the recent lows.
There are two ways you could trade the Dax at the moment, which camp are you in? Range traders can use Limit orders in the buy/sell zone. Break-out traders can use Stop orders 30/40 points above/below the range.
This volume profile goes back to the 10/11th November, which makes a slightly narrower value area. It is not providing the most exciting trading opportunity at the moment, but a break could be interesting
Anyone else wondering what just happened to the Dax? I wonder if this low volume pocket had anything to do with it.