Tuesday, May 13, 2008
Dax 7-Day Balance
Chart 1: The Dax has formed a 7-day balance area just below the prior daily (February) swing high of 7183.50
Chart2: Balance area highlighted by low 120min ADX
Chart3: A breakout from balance can lead to a decent trend move. However, failure above or below the range extremes can produce strong moves in the opposite direction – as shown by this recent small example in 10-year notes.