Dax Technical Analysis 13/02/2015

[wp_ad_camp_1]

Good morning traders!

Congratulations to all bulls, almost a perfect day yesterday. I am sure a lot of bears got heavily burned.

Cash markets rallied to fresh highs yesterday on the back of news from Minsk. A ceasefire agreement was reached for the Donbass region and in addition the IMF have agreed a $20billion aid package. In other news Mr Praet from ECB has said the Euro zone is on the mend and things are picking up (details here: http://www.streetinsider.com/ETFs/ECBs+Praet+Discusses+Economic+Developments+in+the+Euro+Area+(FXE)+(UUP)/10261216.html)

I have recently found it difficult to ignore the excitable tweets of a fellow Dax spread betting blogger, who preached an extraordinarily bearish outlook for the Dax claiming things such as; an impending sell off and any move higher would be a trap and 11k would be ridiculous and anyone who believes it is going to happen is a heretic. Well, perhaps I over-exaggerate with the heresy claims. This spread betting blogger actually did seem to have very good technical knowledge, could articulate his views very well and seemed to be making sense, at least to me, but the strange thing is, this person has mysteriously disappeared.

Anyways, I did get caught up in the bearish furore and had a few poor trades today, based on agreeing with some of that sentiment. I said yesterday it’s unlikely that we will have a continuation rally until we get to lower levels. Perhaps I was wrong. I am curious to see the reaction at 11k if/when it’s reached today. I am sure the disappearance of this blogger is just a coincidence and not due to the market being so close to catching the elusive 11k.

So what about today’s levels

[twitter-follow username=”DaxTrader54″ scheme=”light”]

Support & Resistance

KEY LEVELSDifference
Daily R211137286
Daily R111054244
Value High10947177
Naked VPOC10922170
Daily Pivot10892139
24hr VWAP10885137
Value Low10877151
34 Hour EMA10851107
Daily S11080997
Daily S210647-8
200 Day EMA972113
[wp_ad_camp_1]

Dax Daily Chart Analysis

On the 3rd Feb we reached 10986, which just about pierced the bullish trend channel, and yesterday we almost took that level out falling short by just 12 points. Despite the failure to breach 10986, we saw the highest closing price  on the Dax to date! I have heard people claim that the Dax will stay on a path similar to the SPX during the US QE from 2012.

Dax Daily Chart Analysis
Dax Daily Chart Analysis

Dax Intra-day Chart Analysis

Big breakout day yesterday, after a compressed Wednesday and as a results the distance between the pivots is much larger and the gap between R2 and S2 is nearly 500 points. The variance can now be seen clearly on the Bollinger bands.

Dax Intra-day Chart Analysis
Dax Intra-day Chart Analysis

Dax Volume Profile Chart Analysis

‘P’ shape profile with multiple lower volume pockets, the largest being formed early in the day when we had the breakout. This now appears under the YVAH. If we do manage to break down there, which perhaps would be a big ask, we could fall through it, just as quickly as we climbed up yesterday.

Dax Volume Profile Chart Analysis
Dax Volume Profile Chart Analysis
[wp_ad_camp_1]

2 thoughts on “Dax Technical Analysis 13/02/2015”

  1. Mark

    apparently Davie Robertson used to tweet under @dailydax30 and went missing last December too … not saying there is anything to read into that, but, I got caught too; like you say, he comes across as very knowledgeable and had a very convincing argument and in many ways he may have been correct and this will probably still happen at some stage, it is just a matter of when (which is the hard bit!) anyhow, you live and learn i guess… beware shorting a bull market….

Comments are closed.

en_USEnglish
en_USEnglish