05 Dax m5 Chart

Dax Technical Analysis 29/03/2017

Good morning traders!

A yearly high on the Dax (closing price), just as Theresa may signs the letter that triggers article 50.

Strong bullish day yesterday, one that gained 1.23%, over 150 points and now settles just below the major resistance of 12191. Yesterday I was watching out for a break above 12110 suggesting that it could open up the door to 12180, well just look at the closing price for yesterday. It’s a hollow victory, because I didn’t even trade it personally. In fact, I made zero Dax trades yesterday. I was waiting for price to retrace before going long, but it didn’t reach the levels I wanted. The algo was not switched on, so it was a quiet day for signals.

My thinking is that the Dax is still trading below it’s ‘All Time High’ when the majority of major indices have already hit theirs, so I remain bullish and I think until the shit really starts to hit the fan with various geo-political problems and also with Greece again in July, we can continue to find higher levels. The algo remains bullish

The algo remains bullish.

Bulls can be encouraged by the recent daily candle and will now watch out for 12075 and 12000 as possible retracement targets, or look for a break above 12191, just be aware that this level is pretty significant.

Bears can see a good reward:risk opportunity emerging as we approach extended levels and see short-term selling signals, as seen on the 5m chart.


 

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If you’re interested in receiving live trading signals for the Dax, come and join the community. Three months of signals will cost £94 and can be purchased using this link: https://www.paypal.me/DaxTrader54/94 . In the meantime come and join my broadcast channel on Telegram messenger, it’s here that I broadcast additional Dax analysis and messages to my readers and subscribers. For the rest of the month, it is very easy to get access, please download the Telegram messenger (from www.telegram.org) and then click this link: https://t.me/joinchat/AAAAAEAypsW3Xet_6ngBlw


 

Dax Hourly Chart

 

03 H1 Dax Chart
03 H1 Dax Chart

 

Dax Intraday Chart

05 Dax m5 Chart
05 Dax m5 Chart

Dax Support & Resistance

KEY LEVELS
Open12032
High12187
Low12032
Close12180
Range-155
Change1.23%
14 Day ATR110.37
Daily R212287
Daily R112232
Daily Pivot12130
Daily S112075
Daily S211973
200 Day EMA11135