DAX/ES update 31/Jan/2014

ES wild today. Price gapping down 20 handles overnight. 1765/71 were heavily sold, above 1765/71 will squeeze those shorts. It is my line in the sand area. Lots of longs are trapped above 1781 If lower then 1752 HVN key area below, not necessarily a buy. Daily range has been 17 handles putting ATR at…

ES, EUR, DAX : daily charts

Some important levels being tested today: ES failure at 1770’s looks like 1752. This is the lower end of the monthly 90 pts ATR from 1840: DAX gave back the gains from the low volume December push. Coming back to top of prior balance. EURO current balance High volume node 1.3530 The ES daily chart…

Basics of Trading (2) – Support and Resistance

Following on from the previous post on initial setup and charting. Once you have access to charts you will want to start to understand how to look at them. As I wrote previously: The higher timeframes (daily, 4 Hour, 1 hour) will give you a good idea what is happening. (You should of course also…