Another Friday, bring an end to yet another week, and what have we learned? It’s bullish! Have I been making money buying it? No. I’ve had a pretty awful week to be honest, mainly because I have not been able to spend time at the computer, so have relied on setting and forgetting. The Dax trades have been appalling and my only saving grace is the GBPUSD which I have been trading: https://www.mql5.com/en/signals/121031
My 52 week review is up and I have returned 67%! Pretty pleased with that.
Dax Technical Analysis Summary
We are bullish above 9900, but we are struggling to take out 10100 so are trapped in a 200 point range and moving sideways.
There could be an interesting buying opportunity around 9950 (looking on the 5 minute chart), bouncing from the daily S1 – pivot point indicator
Bearish MACD momentum is slowing and we are about to break out of the moving average envelope, to the upside (15 minute chart)
If we fail to hold 9900, then we could see 9650 again (30 minute chart)
Heiken Ashi has turned bearish again (1 Hour chart), signalling selling opportunities.
We are still right on top of the daily 200 EMA
So right now, there are multiple mixed signals and it might be best to wait for a break out of the trading range for the trend to reveal itself.
Dax Support & Resistance
|200 Day EMA||10058|