daxtrader54

daxtrader54

How would you define this particular candle and does it suggest anything to you?

daxtrader54

This may not be a textbook definition of an inverse head and shoulders pattern, but it looks like one to me. However it also looks like we are right back in that range again, it's magnetic isn't. As much as price has tried to break out, it just keeps finding itself back in there

daxtrader54

After the recent dollar strength, we have seen a minor correction on this pair. Have we now come to a potential demand area, if so can we expect a bounce back towards the recent highs? Or are likely to break still further lower. I am bullish above 113.5

daxtrader54

The zone is only crudely drawn, but it is still a good spot to buy. How long will it last? It has been pierced once before (last week) but it turned out to be a fake break. Is it still offering a good reward:risk opportunity? I think so

daxtrader54

We broke out of our recent wedge formation, so bulls are now on alert. Here are a few entry ideas for bulls.

daxtrader54

We are out of the wedge, but we are still bound between the 11530 and 11630 levels, but we have had a go at support AND resistance today, both sides of the range, so let's see what happens with the bigger breakout. I think a few traders have been slapped today. Brutal market at times.

daxtrader54

The wedge pattern is closing in fast but price continues to trades sideways, which way is it going to break

daxtrader54

It's been sideways for the majority of the session today, we are starting to coil up, so is this a potential breakout opportunity?

daxtrader54

Based on the range we are in, these are the levels I am watching

daxtrader54

This is not a low volume pocket, it's a low volume black hole! But rather than having its own gravitational pull and acting like a vacuum, it's repelling price like opposing magnets. I think it highlights the zone that price will likely find, if/when it breaks.

daxtrader54

We've had a 1000 point rally on the Dax, but haven't really seen much of a pullback or correction. Looking at this volume profile, I am wondering whether a break below 10400 opens up a move back to the higher volume area of 11275. Perhaps this is a spot for bulls to add to their position. I think we are bullish above 10222. But if 10400 holds, we could continue to...

daxtrader54

The previous range that held price so tightly for nearly a month has been humiliated by both a break lower (which was rejected) and quickly followed by a break higher, making a mockery of the previous buy and sell zones. Price is too high to jump in now, so traders will be looking to find some sort of balance point to go long

daxtrader54

We were trading in this range for much of November '16 and I was frequently asking "which will we hit first, 10500 or a break above 10830?" Well, the answer was 10500; thanks in part to the uncertainty caused by Italy. Now, however, we have recovered all of the losses and are now way ahead, can we build from here and break out to the upside?

daxtrader54

If we look at the volume profile (15-minute chart showing the last month) and focus on the higher volume areas, we can draw these four zones that may act as potential support levels if price breaks lower. The issue with predicting these support levels is the Italian referendum result is likely to cause volatility.

daxtrader54

I am not a specialist with this candle formation, but they are quite imposing on a daily chart. Does it mean continuation? Does it mean anything at all? All I know is I am watching the 50% reaction.

daxtrader54

If you were short-term bullish and looking for a long position, this could be interesting. The position requires a pullback to the Value Area Low of this Volume Profile (visible range) before rallying up to recent resistance. The stop loss would be just below the recent lows.

daxtrader54 Updated 

There are two ways you could trade the Dax at the moment, which camp are you in? Range traders can use Limit orders in the buy/sell zone. Break-out traders can use Stop orders 30/40 points above/below the range.

daxtrader54

This volume profile goes back to the 10/11th November, which makes a slightly narrower value area. It is not providing the most exciting trading opportunity at the moment, but a break could be interesting