Monday, April 18, 2016

FDAX: Technical Analysis


Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 10150.0
Take Profit 10455.2
Stop Loss 10010.1
Key Levels 9494.2, 9754.2, 9904.5, 10124.3, 10485.2, 10872.2
 
Alternative Scenario
Recommendation SELL STOP
Entry Point 9895.0
Take Profit 9765.2
Stop Loss 9925.9
Key Levels 9494.2, 9754.2, 9904.5, 10124.3, 10485.2, 10872.2

FDAX, H4
On the 4-hour chart, the index is approaching the apex of a correctional triangle. The instrument is trading in the upper Bollinger band while bands are directed up. The price remains above its moving averages that turned up. The RSI has failed its strong resistance and falling. The Composite has broken down its longer MA having developed a more significant downward movement.

Key Levels
Support levels: 9904.5 (local lows), 9754.2 (EMA130), 9494.2 (beginning of April lows).
Resistance levels: 10124.3 (upper triangle side), 10485.2 (beginning of January gap), 10872.2 (December 2015 highs).

Trading Tips
Long positions can be opened from the level of 10150.0 with the target at 10455.2 and stop-loss at 10010.1. Validity – 2-3 days.
Short positions can be opened from the level of 9895.0 with the target at 9765.2 and stop-loss at 9925.9. Validity – 2-3 days.

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