Dax Technical Analysis 27/04/2015

Hello traders!

And there it is, the Dax is on its way back up past 12k and it now seems fairly likely that we can build higher from here. The positions we entered from Friday and Thursday are looking like they will hit the targets and life is good again.

It is likely deflation in the Euro area has ended in April and the inflation trend is expected to continue to move higher in the coming months. Euro surprises are coming down, US surprises set to head higher which points to lower EURUSD and higher Dax.

My outlook remains bullish.

Support & Resistance

KEY LEVELSDifference
Daily R211977-99
Daily R111893-34
34 Hour EMA1184218
24hr VWAP1183774
Value High1181526
Daily Pivot11799-1
Naked VPOC1176948
Value Low1174944
Daily S11171564
Daily S21162197
200 Day EMA1058454

My Trades

Friday I had a NASDAQ trade close for target 100 points, see the results here.

These trades are using my generated signals and I am using a particular strategy for every signal I receive.

Dax Charts

The 4 hour FXI seems to have pierced the top and I suspect a pullback will occur to allow another opportunity to go long.

1Dax - FXI Indicator
1Dax – FXI Indicator

The 11574 is still holding as a key level of support on the daily chart and we look to go long from near to there as a high probability setup

2Dax Daily Chart
2Dax Daily Chart

12077 is the most recent high to take out to open up the door to 11400 again

3Dax Intra-day Chart (4 hour)
3Dax Intra-day Chart (4 hour)

Weekly R2 is around 12250, a decent target this week if we take out 12100

4Dax Intra-day Chart (30 minute)
4Dax Intra-day Chart (30 minute)

Overcooked today, we are already past the R2.

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

What goes up must come down? Extended way above the vwap. I’d like to reload from 11900-11950

6Dax Volume Profile Chart (5 minute)
6Dax Volume Profile Chart (5 minute)