Dax Journal 10/07/2017


On Friday the Dax closed way above the deviation high and the value area high and approached the POC from Thursday. We were looking at the possibility of a rally if we broke above the triangle support, marking out two possible zones, one around 12410 (a high volume node from Thursday) and the second around 12440 (another high volume node, just above the Thursday POC).

The opening call/prediction for the DAX is a move higher towards that second target. This is great because the analysis was good, but this is bad because no trades were placed on Friday afternoon, so the move was not taken.