The DEU.IDX/EUR pair has been trading in a junior ascending channel pattern since June. The pair bounced off the bottom border of the channel pattern at 11616.2 on June 3. The German 30 index made a pullback south from a resistance level at 12571.5 during yesterday's trading session. Currently, the pair is testing a support cluster formed by the 50– and 200-hour...
my own idea, if you follow its under ur own risk,
DAY TRADE - EXPIRES AT 9PM Trade Idea Trading within a Corrective Channel formation. Bespoke resistance is located at 12300. There is scope for mild buying at the open but gains should be limited. Broken out of the Head and Shoulders formation to the downside. Preferred trade is to sell into rallies. Expect trading to remain mixed and volatile. Stop:...
Daxi is Letting Of all Short Going long to Meet the top channel Good luck
DAY TRADE - EXPIRES AT 9PM Trade Idea Trading within a Corrective Channel formation. Bespoke resistance is located at 12300. There is scope for mild buying at the open but gains should be limited. Broken out of the Head and Shoulders formation to the downside. Preferred trade is to sell into rallies. Expect trading to remain mixed and volatile. We look to...
DAY TRADE - EXPIRES AT 9PM UK Trade Idea Trading within a Corrective Channel formation. Bespoke resistance is located at 12400. There is scope for mild buying at the open but gains should be limited. Continued upward momentum from 12195 resulted in the pair posting net daily gains yesterday. Preferred trade is to sell into rallies. Expect trading to remain...
DAY TRADE - EXPIRES AT 9PM Trade Idea Trading within a Bullish Channel formation. We have a 50% Fibonacci pullback level of 12130 from 12661 to 11600. As this corrective sequence continues we look to set longs on a dip at better risk/reward levels. The medium term bias remains bullish. Preferred trade is to buy on dips. We look to Buy at 12130 Stop:...
Following the DB announcement of 18,000 job cuts, and the wider slowdown in Germany, stemming from Trade War squeezes on various industries, the ECBs money printing program is no longer driving the DAX higher. Volume and price trending lower
Trade Idea Trading within a Bullish Channel formation. Bespoke support is located at 12435. Positive overnight flows lead to an expectation of a firm open this morning. Further upside is expected although we prefer to buy into dips close to the 12435 level. We look to Buy at 12435 Stop: 12365 Target 1: 12675 Target 2: 12800 Daily market report July 8th...
Thursday's session was very nice and with reasonably volatile moves for profitable trading. Dax first climbed to hit Wednesday's high and by doing this, the statistical probability of 82% to break previous day high or low was fulfilled. A bit later, sellers took over even though we expected them to react on higher prices. The price sliced through the support zone...
Fundamentals: - German industrial production declining (-1.8%) - IFO business climate continuous decline from 105 to below 97 points in a year - ECB program and rate cut insufficient support for economy Technical: - Daily double top formation - 38.2 Fib level as TP1 Trade: - Enter trade with SL above recent high
Grinding higher amidst a cooling Euro with ECB easing
Welcome to a new trading week. Friday's session turned out as expected, but unfortunately, our zones didn't get a chance to play a role. The resistance at 12 337 and 12 373 didn't attract any sellers. They entered a bit higher at 12 409 and continued to dominate intra-day price action. Dax then closed just short of the support level laying at 12 219. Today, we...
By looking at the past two sessions, it is very clear that the waiting for FOMC does indeed affect the Dax. Yesterday’s session only had a range of 70 points and most of the time, we traded sideways, slightly to the downside. The session ended at the price 13 312. Important zones Resistance: 12 433 Support: 12 281 Statistics for today 25 % gap...
Target: 13228 Stop loss: 11801 (2.65%)
Thursday’s session has been considerably more active compared to the previous day. Dax first headed straight up without stopping at our first resistance zone. The second level of resistance laying at 12 194 functioned perfectly and the price even formed an intra-day high there. Following was a bounce back to our first level, now being a support zone where we found...
Go Long Thurs morning 0800 SL60 TP 12300 There could be a retracement to 12250 approx, go long again SL 50 TP 12450