Good morning traders. Is that Bullish Divergence on the DAX? And a gap higher this morning? If so, then we have an opportunity to look for longs (counter trend – fade) towards the 12400-500 zone or even a test of the 12650 major trend defining level.
The trend remains Bearish below 12650. Short-term buy zones could be in the 12200-12250 range and sell zones around 12350-13400.
12-02-2018 Dax Video
In the Premium Webinar this morning we started with the DAX and FTSE and then updated all the 25 forex, index and commodity charts, looking for setups to trade. This was a quick summary of the DAX and FTSE analysis.
12-02-2018 Dax Charts
12-02-2018 DAX TPO
We are trading above the Value Area High from Friday. We are inside the Low Volume Node from Thursday so I am watching for a retracement to the first naked VPOC.
12-02-2018 DAX Five Minute Chart
These expanding pivots have broken higher with the gap this morning. We have tested the top of the line, but a bait of that area may provide another opportunity.
Bullish divergence on this one too. Price has just reached the median line so we are watching for whether this reacts to that line, or expands through it towards the upper median line parallel.
Euro Stoxx Chart
And again, Bullish divergence here too
12-02-2018 Dax Key Levels
|Value Area High *||12264|
|Value Area Low *||12074|
|14 Day ATR||278.98|
|*These are FXCM numbers, not futures numbers. Please be aware that FXCM can often be 5-10 points higher than futures prices|