Good morning traders and welcome to the 03/01/2018 Dax Technical Analysis. Let’s look at the price action for yesterday.
The first idea that we posted yesterday was based on a grey ACR line set. The idea was that price had reached a reaction level and would likely bounce from there. If we look at the price action, we can see that price has bounced nicely from that level, although it threatened to break below before bouncing. Candlestick traders would be very interested in the daily candle now.
Yesterday, shortly after posting my article, I received a message from a website reader, who was abusing that idea (and the whole website) and the message was quite aggressive. So if that person decides to come back again, I shall post their IP address and ban them from the site for unnecessary rudeness. It’s ok to have a different opinion on the market. We are trading in a zero-sum game. But please handle your differences in a respectful way. I was very disappointed that a fellow DaxTrader would stoop to such a childish level.
The second idea was the green shaded support zone. Once again, this level was pierced but provided a reaction. I continue to watch for a move higher from current levels. I will confirm that I am not married to the idea, but it helps to form a simple bias to look for opportunities to trade in that direction.
So today, it is much of the same.
03/01/2018 Dax Charts
03/01/2018 Dax Entries (New), Take Profit and Stop Loss
You will need to sign up as a Premium Member to see those in the subscriber channels.
Today in the Premium Webinar we are going to look at the Dax and FTSE setups, check for potential strategies and entries, but as it is Wednesday, we are going to begin working through our brand new, comprehensive, Swing Trading course. The first episode is a primer and will look at covering the basics of swing trading and briefly cover all the fundamental information we expect you to know already. It should be a good session.
That starts at 8:30 am and will be recorded in the member’s section.
03/01/2018 Dax Levels
|Value Area High *||12875|
|Value Area Low *||12774|
|14 Day ATR||138.05|