Dax Technical Analysis 31/07/2015

Good morning traders!

Bullish momentum slowed yesterday but we managed to make a fresh high early into the morning session. Last day of the trading month today and I am still looking for us to edge higher.

We are still short of the fib zones from the July sell off, so plenty more room to rally into. The RSI indicators on the various timeframes are showing nothing unusual with price roughly around the 50 zone.

I entered a fourth trade yesterday and remain bullish, despite the slowing momentum.

[twitter-follow username=”DaxTrader54″ scheme=”light”]

RSI EA Update

So the RSI indicator on the website has now been turned into automated trading software (expert advisor) and works with MetaTrader 4. The software is great fun, it automatically opens trades when specific RSI conditions are met and you can choose you profit target and stop losses, your trade size and manage your risk. You can close the trades manually or just leave it to work and you can apply it on all the normal charts.

It will be released either later today or Monday to all those on the mailing list first and then go live on the website to the general public.

I have completed a number of tutorial videos to help with the software, so this should help answer questions and support you through the first uses.

More to come later today!

Dax Video

Dax Support & Resistance

Daily R21131141476
Daily R111339
Daily Pivot11238
Daily S111163
Daily S211062
200 Day SMA10951

Dax Charts

5Dax Intra-day Chart (5 minute)
5Dax Intra-day Chart (5 minute)
4Dax Intra-day Chart (30 minute)
4Dax Intra-day Chart (30 minute)
3Dax Intra-day Chart (4 hour)
3Dax Intra-day Chart (4 hour)
2Dax Daily Chart
2Dax Daily Chart