The TPO from yesterday has a double distribution creating a low volume area, which is the complete opposite of Friday and Thursday which has a high volume area in the same zone. We are beginning to test this range support and yesterday we made significant progress to breaking lower.
The blue POC here is the obvious short target.
This 20-minute chart shows the minor swings in the top half of an ACR line set. The concern for bullish swing traders is that we have failed to make a new higher high and have put in a new lower low. So it suggests either:
- We are about to change market cycles
- We have an anomaly in the minor swings and the major trend can continue
Time will reveal all.
Watch the video for more
Dax & FDAX Technical Analysis 26-09-2017
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