03 H1 Dax Chart

Dax Technical Analysis 30/03/2017

Good morning traders!

Yesterday we traded inside the zone between the daily pivot and the daily R1 (pivot point indicator), we closed at another 2017 high after gaining a further 0.21% on the day. The daily candle from yesterday only had a 74 point range, much lower than the 14 day ATR of 108, but probably just taking a breather after Tuesday’s gains. All in all it’s contributing to a strong week, which makes the previous week’s pin bar look more and more bullish.

The algo remains bullish, although I have been reluctant to trade with it over the last few days, simply because I believed price was too stretched. So don’t panic, I may not have been sending out too many trades, but they will come.

As for the charts, price has now broken back inside the Bollinger band on the 5 minute chart, but trading sideways, very close to the daily pivot. We are also trading just above the previous major resistance 12191 and I am watching to see whether this level holds to become a new support, or whether it’s not quite strong enough at the moment. If we break below the 12191, significantly, the next support zone to be tested would be 12075-12100, which may provide an opportunity.

Watch Gold and EURUSD for potential inverse correlation-based signals for entry.


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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 Charts

03 H1 Dax Chart
03 H1 Dax Chart
05 Dax m5 Chart
05 Dax m5 Chart

Dax Support & Resistance

KEY LEVELS
Open12180
High12237
Low12163
Close12205
Range74
Change0.21%
14 Day ATR108.43
Daily R212273
Daily R112237
Daily Pivot12200
Daily S112164
Daily S212126
200 Day EMA11145