01-10-2018 DAX 30 Analysis

dax 30 analysis

LUNCHTIME UPDATE (CFD)

As not everyone here trades futures, I will start incorporating the CFD price analysis as well. So I will keep the two as separate as possible and add it into the webinar and summary videos going forward.

Therefore here are, is the updated key levels for today, including CFD

 

DAX KEY LEVELS
  Futures CFD
POC * 12250 12223
Value Area High 12324 12282
Value Area Low 12175 12195
VWAP 12271 12270
R2 12521 12527
S2 12025 12037
Pivot 12273 12282
Camarilla Breakout (Bull) 12356 12362
Camarilla Breakout (Bear) 12084 12092


Good morning traders, welcome to today’s DAX 30 analysis. The DAX closed 177 points lower on Friday, creating the largest daily candle seen since mid-August. 12,300 has been a strong level of support, but Friday crashed through that zone and closed at 12220. The majority of Friday’s trading volume was focused on the lower third of the daily candle, so momentum is definitely bearish for now. 

On Friday, the Dax suffered in particular from the developments in Italy. European equity indices closed in the red on Friday on the back of political uncertainty in Italy. The Italian government decided to approve a 2.4% budget deficit for 2019 despite the economy minister Giovanni Tria’s opinion that the deficit should not exceed 2%. European Union Economic Affairs Commissioner Pierre Moscovici warned Rome must cut its “explosive” debt but said the union wants to avoid a crisis in Italy. A default here would spell the end for the EUR. This strengthens the bearish argument.

Bullish Setups (Futures prices)

There is a low volume zone from the Friday profile, see below. If price manages to break through the VWAP and pivot on this chart, and pierce that low volume area, then perhaps price can reach one of the two shaded areas. 

Bearish Setups (Futures prices)

There is an exposed POC at 12169 that would be the most obvious target to the downside.

Beyond this, 12080 is the next area of focus and then of course the 12,000 major level. 

We are looking for a potential ZigZag pattern to form. If so, then we can speculate an extension of the next bearish minor-wave and this could provide another target. We discussed this idea in the webinar this morning. So we will revisit that tomorrow. 

Regarding the minor swings, our recent low is 12175, so a 1% retracement is approx. 12296. The minor swings are bearish below that.


DAX 30 Analysis Webinar

Chris hosts a webinar most mornings around 7am UK time. The webinars focus on DAX 30 analysis, specifically understanding price action and applying swing trading techniques and tools. To access the webinar, you will need to be a member of the DaxTrader telegram channel. Click this link to access that channel.

When you click that link, you will be prompted to download the Zoom software (zoom.us is the website for the software – it’s free and clean)

The webinars usually last 25-30 minutes and are recorded. However, the recordings are only available for premium/gold members.

Find out more about membership by clicking here.


DAX 30 Key Levels

KEY LEVELS (MINI DAX)
POC * 12250
Value Area High 12324
Value Area Low 12175
VWAP 12271
R2 12521
S2 12025
Pivot 12273
Camarilla Breakout (Bull) 12356
Camarilla Breakout (Bear) 12084

01-01-2018 DAX 30 Volume Profiles

12484 is the most recent exposed point of control to the upside.

12169 is the most recent exposed point of control to the downside.

Depending on which way the DAX 30 moves, these levels are likely targets.

DAX 30 Analysis Video

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