Trading Setup

Dax Technical Analysis 03/12/2014

Current Bias: Neutral and ranging

Support: 9970, 9930, 9900

Resistance: 9992, 10000, 10032

Apologies for the delay in getting the video out there, installing software on it took a lot longer than I had anticipated.

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Market Commentary

We have been trapped in a range for the last week and we are just waiting for the ECB meeting now with volatility drying up temporarily.

Trading Setup
Trading Setup

There seems to be a good opportunity to employ a OCO order trading either a break up or break down after the range is breached. I am undecided as to which way it is going to go, but am possibly favouring a correction in the short term.

The range we are trapped was key back in June/July and we need a catalyst to break any higher than yesterday.

I am currently short with a scalp trade, but due to the lack of volatility, the trade is still open.

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Dax Technical Analysis