This morning we gapped above all previously discussed resistance levels from last week in the latest show of bullish strength and the momentum is still very much alive.
Last week our problem was being unable to find an entry as we were waiting for a pullback that did not happen. The best entries came from reading intraday price action and taking shorter-term trades, than placing orders at pullback zones. So trading was quieter than we would have like and instead we spent time studying the price action.
Bullish target zone 12750-12800
Best opportunity at the moment is a potential long at the bottom of the gap (from today) to target a continuation higher towards that target zone. We have another value area in the 600-650 zone, so if we are ready for another price discovery phase (markup) then this would be a reasonable expectation for shorter-term targets.
As for moves to the downside, we still have the 500, 480, 440 and gaps lower down which may provide better footholds.
Come and join the telegram channel to receive the link in the morning. The webinar is free to join and last around 30 minutes. During the webinar we look at all the charts you will see in this video, but in more detail.
Telegram Channel: https://t.me/joinchat/AAAAAEAypsW3Xet_6ngBlw
Dax & FDAX Technical Analysis 18-09-2017
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