Skip to content
TraderSimon.comTraderSimon.com
TraderSimon.com
Learn to profit from the financial markets
  • Home
  • Blog
  • Charts & Alerts
  • Videos
  • About
  • Contact
  • Members Website
  • Home
  • Blog
  • Charts & Alerts
  • Videos
  • About
  • Contact
  • Members Website

DAX Analysis For The Week Beginning 24th October

DAX analysis for the week beginning 24th October

As tweeted last week, daily supply is weakening and looking increasingly likely to break to the upside. The bounce off daily demand was coupled with a “spike double bottom”.

Since then, the market has formed a broad rounded bottom and based on these factors we could see new supply at 11,100 after the US elections.

2016-10-22_21-04-dax-daily

 

Hourly View

On the hourly chart, I’ll be looking for intraday stophunts and opportunities to buy at demand. Near-term stops are located at the lows at 10588-90 and 10489.

Key demand zones to buy are 10542-10562 and 10442-10468.

 

2016-10-22_21-08-dax-1hr

UPDATE Friday 28th October 2016

DAX took out the stops at 10588 as predicted. It bounced just short of our demand zone and continued for 120 points up to intra-day supply.
Although our demand was “front-run”, there was a bear trap opportunity once price had moved back above the red stop line.

2016-10-28_21-06-dax-update-28th-oct

Post navigation

PreviousPrevious post:EURUSD Analysis For The Week Beginning 24th OctoberNextNext post:Using Confluence To Create A High Probability Trading Strategy

Related posts

10 Of My Favourite Charts & Trades From 2019
December 20, 2019
A “Trumping” Good Week – 9th/13th January
January 13, 2017
AUD/USD Analysis week beginning 11/12/16
December 11, 2016
Gold Areas Of Interest Week of 13th November
November 13, 2016
EURUSD Higher Timeframe Update
November 7, 2016
Gold Analysis For 6th Nov 2016 and GBP/USD Similarities
November 5, 2016

1 Comment

  1. andrewhickling says:
    October 23, 2016 at 6:31 am

    Great thanks

     Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

clear formPost comment

About the author
  • Simon Kloot

    Trader, Blogger and Mentor.

    Ex-IT consultant turned professional day trader. Simon lives with his wife and daughter in North London. He trades Forex, Equity Indices, Gold and Cryptos, and enjoys helping others attain their trading goals.

    Personal blog / websiteE-mailFacebookTwitterYouTubeLinkedin
Risk Disclosure Statement:

Trading financial instruments on margin involves a high level of risk which may not be suitable for all investors. Leverage can work against you just as easily as it can work for you. Before deciding to trade you should carefully consider your trading and financial objectives, level of experience, and appetite for risk. The possibility exists that you could sustain a loss of some, or possibly all of your trading capital. Therefore, you should not fund a trading account with money that you cannot afford to lose. It is recommended that you seek advice from an accredited financial adviser if you have any doubts as to whether trading is right for you. No representation or guarantee is offered or implied as to the trading results that may be attained by applying concepts presented herein. Any losses incurred by traders unsuccessful in applying these ideas or methods are the sole responsibility of the trader. By reading this blog, you accept that TraderSimon, its principals, contractors and assigns will be held safe from prosecution in any form.

HYPOTHETICAL PERFORMANCE DISCLAIMER:
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN; IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK OF ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL WHICH CAN ADVERSELY AFFECT TRADING RESULTS.
GDPR Privacy Policy

GDPR Privacy Policy

Copyright © TraderSimon 2017