Dax Technical Analysis 28/11/2016

Good morning traders!

I hope you all had a nice weekend. Let’s see what the market brings to us this week.The session opened with a 25 point drop which took out the daily pivot on the pivot point indicator. The daily S1 at 10 663 could be the next level of support with 10 650 being a possible opportunity to buy.

Last week was not very interesting for Dax Trading, in fact, it was very quiet with Wednesday providing probably the most interesting trading, adding a perhaps bearish flavour to the current sentiment.

However, it’s time to take your stance; range trading or breakout trading?

Dax Technical Analysis

The session opened with a 25 point drop which took out the daily pivot on the pivot point indicator. The daily S1 at 10 663 could be the next level of support with 10 650 being a possible opportunity to buy. There is a possible trading opportunity if you wanted to open a position at 10 670, you could risk 20 points for a possible 40 to 45. The idea behind this one is that price would be pulled back to the point of control, or the value area low, based on the visible range of this volume profile chart below. The stop-loss would be below the recent lows and the profit target will be towards the recent highs. It is not a signal it’s just an idea.

On the daily chart, we are still in the top half of the range, in fact, we are in the top 25%. We are above the 200 daily EMA, but as we are at the top of the range we are restricted by resistance above.

On the four-hour chart, the Bollinger band is now much more constricted with the oscillator exactly in the middle, circling around 50. Waiting for a breakout seems to be the best opportunity at the moment.

Dax Trading Ideas

Recently there has been a lot of demand around 10 600 so on the bigger picture that could be a great opportunity to go long. It’s also the weekly S1.

Another idea is to consider whether or not you are waiting for a breakout of the recent range that you can see on the one hour chart, or whether you are looking to trade the range that we are trapped in. If you are range trader, then you have a clear buy zone and sell zone marked out on the chart. You can use limit orders to buy from the buy zone or sell zone. However, if you are waiting for a breakout, then you can use stop orders.

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Dax Support & Resistance

KEY LEVELS
Daily R210757
Daily R110730
Daily Pivot10690
Daily S110663
Daily S210622
200 Day EMA10361

Dax Charts

01-dax-daily-chart
01-dax-daily-chart
02-dax-h4-chart
02-dax-h4-chart
03-h1-dax-chart
03-h1-dax-chart
05-dax-m5-chart
05-dax-m5-chart
tv-5m-dax-chart
tv-5m-dax-chart
tv-h1-dax-chart
tv-h1-dax-chart
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