13-10-2017 Dax Technical Analysis

13-10-2017 Dax Webinar (Free)

Come and join @ 08:30am UK Time

(You will need to download the Zoom software access the webinar. It’s free and clean)

Welcome to the 13-10-2017 Dax Technical Analysis. We finally managed to hit the 13,000 handle and wow it’s been a struggle these past few days. Trading conditions have been very tricky with some fairly unusual intraday swings beginning to suggest that price action is ready to move again. Yesterday we looked at the idea of buying at 12934, but price did not come down to that level. The TPO (chart 2) shows a new high, it also shows that we stayed above yesterday’s low.

13-10-2017 Dax Outlook

In the premium we will be watching for the shaded areas on chart 1. These areas are key pockets formed by points of ignition from areas to the left. Look left on the chart for the wide range bars, the bars which are bigger than those around it. These bars tell a story that price got thrown, and zoomed. When you see these bars, they often act as ‘bait’ for tests. They are decent high probability setups, given the right type of price action.

Overall, we expect to see another attempt at the 13000 level and ultimately believe that there is still another 400 points or so higher to move into, but we will also stay alert to the opportunity to fade the market and buy from lower levels. The S1 is interesting intraday.

The H4 and Daily indicators (from the indicator table) are still bullish, meaning a pullback would be ideal to provide the entry for a long. It just so happens that the shorter timeframes are bearish (after a gradual decline in the evening session) and nearly in a buy zone.

13-10-2017 Dax Key Levels

POC (Futures)12976
Value Area High (Futures)12984
Value Area Low (Futures)12955
14 Day ATR77.17
200 EMA12127
Daily R213035
Daily R113005
Daily Pivot12974
Daily S112945
Daily S212913
*Please be aware that FXCM can often be 5-10 points higher than futures prices

13-10-2017 Charts