Dax Technical Analysis 02/04/2015

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

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KEY LEVELSDifference
Daily R21227070
Daily R11214881
Value High1210470
Naked VPOC1204388
24hr VWAP1202245
34 Hour EMA1200220
Daily Pivot119943
Value Low1197961
Daily S11187214
Daily S211718-64
200 Day EMA1027217

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.

1Dax - FXI Indicator
1Dax – FXI Indicator

Dax Daily Chart

I still think wde are likely to move further higher in the medium term, but the range still dictates currently.

2Dax Daily Chart
2Dax Daily Chart

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.

3Dax Intra-day Chart (4 hour)
3Dax Intra-day Chart (4 hour)
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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.

4Dax Intra-day Chart (30 minute)
4Dax Intra-day Chart (30 minute)

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.

5Dax Intra-day Chart (5 minute)
5Dax Intra-day Chart (5 minute)
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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.

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6Dax Volume Profile Chart (5 minute)
6Dax Volume Profile Chart (5 minute)
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