Dax Technical Analysis 11/03/2015

Good morning traders!

So from Monday’s open we closed a healthy 70 points higher but after yesterday we have given all of that back and closed at exactly the same place again.

Yesterday bulls ran out of steam at 11600, but bears struggled to take out 11400 and now we have entered a 200 point range and we await a breakout. Over the last few days we have a comfortable resting place around 11500.

I still currently have a long position still open with a 12k target, which I added to yesterday but no other trades on the Dax. I am not in love with the additional trade, because I would not be surprised if we trade further down this week. But my stops are pretty wide.

My forex indicator wasn’t really looked at yesterday because I wasn’t at home as much as I would have liked to have been, so nothing new was added to the review. I will see what other opportunities I can find in the morning.

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Support & Resistance

KEY LEVELS
Daily R211841
Daily R111676
Value High11572
34 Hour EMA11516
Naked VPOC11513
24hr VWAP11501
Value Low11480
Daily Pivot11435
Daily S111270
Daily S211029
200 Day EMA9997
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Dax Daily Chart Analysis

We are still above the 8 period MA but have found resistance at the 0.618 extension from the previous swing. We are still at the top of the trend channel and a weekly chart shows a doji forming (too early to mean anything at this stage)

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

Heiken ashi candles this time. Still inside the regression channel from earlier in February, bouncing from the top and bottom, which corresponded with the daily pivot levels too. Trading on the 34 EMA, just above the weekly pivot level. Unsure if we are ready for a move, or sideways action.

Dax 30-minute Chart Analysis
Dax 30-minute Chart Analysis

Dax Intra-day Chart Analysis (5 minute)

I found the volume spikes interesting here because each time we saw one, there has been a move to the upside. So maybe we get another one today/Thursday to continue the move. The chart shows

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

We bounced between the daily S1 and daily R1 yesterday before settling on the daily pivot. A nearly textbook example of pivot point trading.

Dax 1-minute Chart Analysis
Dax 1-minute Chart Analysis
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Dax Volume Profile Chart Analysis

Dax Volume Profile Chart Analysis
Dax Volume Profile Chart Analysis
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