Good morning traders!
We are still trapped in a range, moving sideways with alternate up and down days. There are good range trading opportunities, just be wary of a breakout. I will not be trading very much over the next few days, so the reports will include the charts and levels, I hope you all have a good Easter break.
Dax Support & Resistance Levels[wp_ad_camp_1]
|34 Hour EMA||12002||20|
|200 Day EMA||10272||17|
DAX FXI Analysis
Buy zones indicated at 11945 on the 5 minute and 11900 on the 30 minute. I have put a buy order at 11900.
Dax Daily Chart
I still think wde are likely to move further higher in the medium term, but the range still dictates currently.
Dax 4 hour Chart
Multiple levels of support have been built, another was added from yesterday at 11847. If we take this out, we could eventually test the second one down at 11660.[wp_ad_camp_1]
Dax 30 minute chart
Sideways and ranging. A range trading strategy may very well prove a good way to capitalise here. I am personally only buying so have a buy zone between 11850-11900.
Dax 5 minute chart
We are currently trapped between 11937 and 12035 so if we break below 11937, I am waiting for us to fall into the buy zone, if we break above 12035 I would consider a long on a pullback.[wp_ad_camp_1]
Dax Volume Profile – 5 minute chart
Currently there are two sell signals active and we are trading below the rolling VWAP. The profile from yesterday was unusually stretched and we are now currently hovering around the value area low. If we bottom out here I would be targeting the naked vpoc.[twitter-follow username=”DaxTrader54″ scheme=”light”]