04 DAX Market Profile

Dax Technical Analysis 03-07-2017

Good morning traders! This week I have marked out a potential strategy based on an emerging balance point, let’s see if that plays out. We have various indicators on the charts that suggest some interesting moves and I have been looking at a new strategy for ATAS, using a volume chart and some oscillators. Login or register to view the article and the video.

Dax Video

Dax Daily

  • Breaks below the ascending  triangle pattern
  • Still above the daily 200 EMA
  • Sitting on the Kumo cloud support
  • 12250-12400 is an interesting spot for buyers
01 Daily Chart - Dax Technical Analysis
01 Daily Chart – Dax Technical Analysis

Dax H2 chart

  • Heavy break below the rising channel
  • Bullish divergence at the bottom of the current move
  • Interesting long-tailed doji candle
  • Pullback zone ranges between 12500 – 12725
02 2 Hourly Chart - Dax Technical Analysis
02 2 Hourly Chart – Dax Technical Analysis

Dax m5 Chart

  • Holding above the daily pivot at the moment
  • Bullish divergence at the bottom of the move, outside the Bollinger bands
  • Trade from last week (Friday) was entered after a ‘two leg down’ move from the wedge break. It didn’t work out
03 5m Chart - Dax Technical Analysis
03 5m Chart – Dax Technical Analysis

Dax Market Profile

  • Currently oscillating around the POC from Friday
  • Narrow opening range this morning, watching a break above or below
  • Potential extension target of 12487, assuming today’s gap is a balance point for a move higher
  • 250 volume chart with a 15,5,5 Stochastic and a 10 period RSI can offer signals to support a trade entry
  • Download link: http://orderflowtrading.net/soft/atasmed353
04 DAX Market Profile
04 DAX Market Profile