03-01-2019 DAX 30 Technical Analysis

03-01-2018 Dax 30

03-01-2019 DAX 30 Technical Analysis || News

A reduction of Apple’s forecast depresses the mood on the stock exchange in Germany. The Dax was expected to start significantly lower in trading, according to calculations by banks and brokerage houses on Thursday. And it did.
 
Yesterday, the first trading day of the new year, we closed at 10641 for a gain of approximately 140 points. However, during the Asian session the iPhone maker announced to miss its multi-billion dollar revenue target in the past quarter, mainly due to weak business in China. Apple shares lost around 8 percent after-hours. A significant reminder of the weight of this behemoth. 
 
So unsurprisingly, the DAX opens much lower this morning, currently trading at the exact same point as yesterday morning, around 10500. The DAX remains bearish below 10680 after failing to break the level yesterday
 
Look out for these events today:
 

03-01-2019 DAX 30 Technical Analysis || Yesterday’s Profile

Yesterday we started below the value area (from the 28th December) and found support around the point of control from the 27th December. As the market rejected lower prices, we saw a bounce up to the underside of the value area, which was also a gap close. The price action stalled under the point of control, retraced back to the daily open and then completed its rally up to the highs of the day towards the end of the session. 

The day was split into two very clear rallies, both of similar length/size. It was a nice example of a ‘measured move’.

 

03-01-2019 DAX 30 Technical Analysis || The Minor Swings

Looking at the minor swing highs/lows from the 10680, we can see that the market is currently coiling into a compression pattern and will likely conclude soon with an expansion. 

Technically the market remains bearish below 10680.

 

DAX 30 Day Trading Signals

Today I will be using a combination of my regular strategy (signals sent to members) and also my day trading strategy (check out the strategy for yourself here: https://thedaxtrader.co.uk/dax-trading-strategy/)

Yesterday my regular trade signals gained 1.18% to the account and my day-trading strategy gained 4.36%. I would call that a very good start to the year, considering that the annual yield on 10-year UK government bonds is 1.2%. We’ve basically quadrupled that return, in one day of trading. 

Trading History: https://thedaxtrader.co.uk/daxtrader-signals-results/

 

03-01-2019 Key Levels

  DAX FTSE DOW ESTOXX
Point of Control :  10615 6740 23222 3005
Value Area High :  10640 6767 23409 3007
Value Area Low :  10514 6679 23041 2970
VWAP :  10547 6703 23153 2981
R2 :  10812 6877 23675 3056
S2 :  10306 6548 22476 2910
Pivot :  10559 6713 23075 2983
Camarilla Breakout (Bull) 10780 6855 23313 3045
Camarilla Breakout (Bear) 10502 6674 22654 2965

 

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