18-10-2017 Dax Technical Analysis

Welcome to the 18-10-2017 Dax Technical Analysis. We are in a slightly unusual position at the moment, because now need to take out the all time high, in order to maintain the bullish trend. Yesterday we attempted to take it out and failed, so today could prove important.

One of the main updates on our thinking is regarding the daily chart. We had a fork drawn on this chart and we were looking at a retracement back to the median line. However if we saw that move, it would break the trend defining level on the way down. We have since realised an error, the C point was below the A point, so this has now been corrected. In summary, the lines have been amended (which you can see in the video) and the retracement back to the median line would actually be above the trend defining level anyway, creating less of a conflict of bias.

The trend defining low is 12909. We may very well see some bearish price action, but as long as we stay above this level, we remain bullish overall.

In the webinar this morning we looked at how to plot the lines and how to use some of the tools to investigate price action. In the second part, we looked at a few scenarios for bullish, bearish and range traders. This part of the webinar was captured in the summary video, which is the video below. This video should provide the outlook for today.

18-10-2017 Dax Key Level

Value Area High13022
Value Area Low12998
14 Day ATR66.69
200 EMA12161
Daily R213070
Daily R113039
Daily Pivot13003
Daily S112971
Daily S212935
*Please be aware that FXCM can often be 5-10 points higher than futures prices

Subscribe to DaxTrader and Join The Community

Learn more about the premium services available by clicking here: https://www.daxtrader.co.uk/about-daxtrader-premium/
We have a number of active members contributing towards the DaxTrader community with setups, charts and ideas. As a premium member you will have access to:

Live Trading Signals

When a trade is opened on my account, the information is shared directly to the signals channel with information including the entry, the stop loss, the target and the date/time. Premium members get access to DAX, FTSE and occasionally S&P500.

The signals are sent directly to your phone using Telegram messenger and thanks to the platform we have built, the delay between me opening a trade and you receiving it to your phone, is around 0.6 seconds.

The Journal

This allows us to be transparent with our trading in terms of being disciplined and accountable. We keep records of the trades and signals we send, we provide context behind each trade, chart and reasons, trade management plans and updates here in the Journal.

The Charts (live)

I broadcast my charts for the majority of the day, which you can access and see what we are working on. The charts can be viewed from a tablet or smart phone as well as a computer

The Chat Room

Participate in the member’s chat room with charts and ideas, improve your own analysis and pick the brains of other experienced traders.

The Webinars

We have some excellent content to share in the webinars to help you understand the strategies and tools used. These strategies and tools are incredibly effective on the DAX and quite easy to start to understand. They don’t require expensive software either. The experience available in the webinars is excellent. The link to the webinars are sent out in the Broadcast channel on Telegram messenger.

Free Broadcast Channel

Broadcast Channel Link: https://t.me/joinchat/AAAAAEAypsW3Xet_6ngBlw

In order to receive your trading signals and alerts, you will need to use the free software called Telegram messenger. It’s very easy to use and very simple to download and install. I will not be able to send any signals until you are set up on Telegram. So let me provide you will some instructions to get Telegram set up.

Setting Up Telegram

(If you have already completed the following steps, please ignore this section)

  • Please download and install ‘Telegram’ messenger from Telegram.org (mobile app and desktop software available)
  • Add DaxTrader +447 912 682 257 to your contacts.
  • Go to the Telegram settings and create a username.
  • Send a message (on Telegram) to DaxTrader.
  • For your records, @daxtrader is the username to contact.
  • Click this link to access the broadcast channel: https://t.me/joinchat/AAAAAEAypsW3Xet_6ngBlw
  • You will receive further instruction to access the signals channel