Morning traders, I have uploaded a summary video from this morning’s Premium webinar which looks at the DAX, FTSE and DOW. Have a watch of that below and put a like on the video if you enjoy the content. Can I also ask you to please write a comment in the suggestion box at the bottom of this article.
There were no trades opened yesterday, but there were some good ideas, such as this one below (which I posted on Twitter).
The idea was based on two principles that we work with every day in the Premium channels. One principle was an ACR line set (join us to learn more or see the Alan Andrews Action Reaction course for full details on how to use this tool) which allows us to project where price is likely to react. The second principle was based on Balance Points (using a gap as a balance point – assuming that the gap is 50% of a move). These two tools provide a similar level from which price could react and so far it has reacted quite well. But the longer we stay below 13350, the more unlikely this setup will reach its target.
https://t.co/V139AHZpjr (premium) shares setups and signals like this one. It’s an example of the confluence of levels between an ‘Action Center Reaction’ line set (ACR) a Balance Point target (using the gap as the BP). It’s too early to say, but it’s started well #dax30 #fdax pic.twitter.com/8XbQAo0BaX
— DaxTrader.co.uk (@DAXTrader54) January 25, 2018
26-01-2018 DAX – Our View
The DAX is Bullish above the major swing low of 13131, but currently deep into a reaction leg (retracement). If the 13131 holds, we are still looking for opportunities to get long.
Zooming into the price action a little more, the DAX is under pressure at the moment. There are clear lower lows and lower highs on the minor swings and 13360 looks to be a popular spot for sellers to step on price. There may be a good reward to risk setup for shorts, if this continuation lower plays out and a new lower low is formed.
26-01-2018 DAX Video
26-01-2018 DAX Key Levels
|Value Area High *||13410|
|Value Area Low *||13285|
|14 Day ATR||140.4|
|*These are FXCM numbers, not futures numbers. Please be aware that FXCM can often be 5-10 points higher than futures prices|
26-01-2018 DAX Charts
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