04-12-2018 Dax Technical Analysis

04-12-2018 Dax

04-12-2018 Dax Analysis

DAX Resistance: 11570 | 11690 | 11845 | 12131

DAX Support: 11320 | 11220 | 11092 | 11000 


Strong day for the DAX yesterday after a massive gap, driven by the US China ceasefire. 

We are currently testing [from above] the downsloping trend line that was gapped yesterday, see the daily chart above. If that holds, it can provide an opportunity to get long. If it doesn’t then there is still plenty of exposed gap left to fill.

Yesterday was so strong because of the reported ceasefire between US and China. The ceasefire is good news for China, because it gives politicians there more time to support the recent flagging economy. China in turn is an important market for many German companies. Shares in the auto sector benefited most from a break in the trading turmoil. BMW, Daimler and Volkswagen and some tyre manufacturers saw strong price gains and were among the top winners in the DAX yesterday. 

04-12-2018 Dax Analysis || Key Levels

  DAX FTSE DOW ESTOXX
Point of Control :  11471 7131 25967 3220
Value Area High :  11524 7146 26085 3230
Value Area Low :  11445 7080 25796 3209
VWAP :  11494 7097 25877 3224
R2 :  11629 7197 26256 3262
S2 :  11353 6993 25449 3186
Pivot :  11491 7095 25853 3224
Camarilla Breakout (Bull) 11553 7149 26015 3243
Camarilla Breakout (Bear) 11401 7037 25571 3201

Dax Volume Profile

The gap lower this morning means we started trading underneath the value area from yesterday, which is bearish. So I am watching the value area low (VAL) as potential resistance and favouring shorts whilst we remain under that. 

If we break through the VAL, then the most obvious target is the Point of Control (POC) and beyond that the Value Area High (VAH).

It may be interesting to see a reaction at the POC, because this would also be a gap close.

04-12-2018 Dax Analysis || Technical Indicators

Dax Trading Results

Here are the numbers from yesterday, see more here: https://thedaxtrader.co.uk/week-49-intra-day-trading-results-2018/

Results

3rd December
 
Trades 9
Start 14514
Final 14505
Result -9
Gain -0.06%

Trades

# Date Mkt Type Entry SL TP RvR % Close Pips Return Balance
144 03-Dec DAX L 11552 11534.8 11620.8 4 4.00% 11534.09 -17.91 -1.04% 14,363
145 03-Dec FTSE S 7121 7130 7085 4 4.00% 7130.05 -9.05 -1.01% 14,218
146 03-Dec FTSE L 7132 7123 7168 4 4.00% 7138.9 6.9 0.77% 14,327
147 03-Dec DAX L 11540 11530.7 11577.4 4.02 4.02% 11543.09 3.09 0.33% 14,375
148 03-Dec DOW L 25999 25974 26099 4 4.00% 25975.7 -23.3 -0.93% 14,241
149 03-Dec DOW S 25971 25998 25863 4 4.00% 25989.2 -18.2 -0.67% 14,145
150 03-Dec DAX S 11491.5 11509 11421.5 4 4.00% 11481.36 10.14 0.58% 14,227
151 03-Dec FTSE S 7079 7092 7027 4 4.00% 7059.2 19.8 1.52% 14,444
152 03-Dec DAX S 11473.5 11487.8 11416.2 4.01 4.01% 11467.47 6.03 0.42% 14,505

Videos

Useful Links & Resources

SIGNALS RESULTS
https://thedaxtrader.co.uk/daxtrader-signals-results/

ECONOMIC CALENDAR
https://thedaxtrader.co.uk/economic-calendar/

DAX-RELATED NEWS
https://thedaxtrader.co.uk/dax-news-feed/

LIVE DAX CHART
https://thedaxtrader.co.uk/dax-chart-interactive/

POSITION SIZE CALCULATOR
https://thedaxtrader.co.uk/calculator.html

TELEGRAM CHANNEL: More Analysis
https://t.me/DaxTraderChannel

This site uses Akismet to reduce spam. Learn how your comment data is processed.