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.


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