Dax Technical Analysis 03/03/2015

Good morning traders!

So the Dax is still aiming higher and we have already made another all time high today. There are still very strong expectations for equity growth and we are seeing the results for ourselves, today is no exception.

At the time of writing this article price has already rallied up to the daily R1 and been pushed back. I suspect we can break through this and go up to test the daily R2 at some point today around 11506.

I like the opportunity to add longs from 11415 or 11400 and another around 11375.

Yesterday I put a trade on using the new indicator that I am reviewing and it gave me a decent win. I opened at 11398 and took the win at 11435. I will continue to see what it can do today.

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Support & Resistance

KEY LEVELSDifference
Daily R21150645
Daily R11146744
Value High1142064
Daily Pivot1141552
24hr VWAP1140864
Naked VPOC1140668
34 Hour EMA1137969
Daily S11137651
Value Low1137168
Daily S21132459
200 Day EMA992033
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Dax Chart Analysis

Daily Chart

Same as yesterday, heavily overbought, top of all channels, but approaching the 11500 which could be key.

Dax Daily Chart
Dax Daily Chart

Intra-day (30 minute)

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Still strongly above the 34 hourly EMA and following the regression channel

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

Intra-day (1-minute)

I see a few opportunities to buy today providing we stay above 11375, using the pivot points as buying zones.

Dax Intra-day Chart (1 minute)
Dax Intra-day Chart (1 minute)

Volume Profile

Price has accelerated higher early on today, leaving a vacuum in its wake which will likely be filled before moving higher. If 11440 goes then we could drop as low as 11420, to test the value area high of yesterday and move up from there. VWAP and VPOC are pretty much identical but the early break out this morning suggests a bullish day today and VWAP is beginning to point up.

Dax Volume Profile Chart (5 minute)
Dax Volume Profile Chart (5 minute)
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Dax Trading System

Looking on the 30 minute chart, the levels are 11506 for the red zone (possible sell) and 11304 for buying.

Dax Indicator Review
Dax Indicator Review

5-minute scalping chart

According to this, there is an opportunity to go long.

I have placed a trade from 11429 with stop loss 11410 and profit target 11460. Let’s see what happens

Dax Scalping Chart
Dax Scalping Chart

This is a trading strategy/system. Overall it looks to be based around a dynamic regression channel feature which looks great with its various coloured deviation bands that mould to the shape of price action which helps to see clearly, at a glance, what price is doing on a bigger picture, and it shows potential support & resistance. Then we have a modified RSI indicator which is coloured to provide a timing signal for a trade and the final one is a coloured ‘moving average’ indicator which shows the underlying trend.

Simple system rule 1: buy only in uptrends, sell only in downtrends. Rule 2: Buy signal when price is at the green (bottom of channel) and sell signal when price is in the red (top of channel). Rule 3: If previous rules are followed, then enter buy trade when oscillator is under 30 and enter sell trade when oscillator is over 70. let me be honest here, I am not the biggest fan of systems, in fact I dislike them a lot. So I am sceptical, but I have promised to give it a chance (possibly on a demo account first).

I will need to be up front here, I have been given a complementary copy of this product to review and test, but it does cost $88USD to buy which may put one or two people off, but at least you’ll get the screenshots here for free. My early impression is good, they guy is pretty helpful, good instructions, easy to install etc, now we see if it’s any good. If you are interested in the product, then learn more about it: Click Here!

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