Good morning traders, it’s Thursday the 5th of March and time for today’s German DAX 30 analysis.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 get to a session high of 12280 and a session low of 11879 giving us a range of 401 points. When you compare that to the average daily range of 338, you can see we were 63 points above the average which says we have a slower session with less opportunity to use the DAX strategy. We can still get some decent signals from the DAX trading strategy, they are just lower probability.. To summarise, after considering the previous day’s price action, it’s apparent we had a very bullish session that ended up 381 points higher on the day.
Where Is The DAX Heading?
The DAX30 Index index is currently Bearish, showing a progressive series of lower lows and lower highs. The trend defining level is currently 12755, so the market remains bearish below that level. In order for the market to remain bearish, we need to take out 12356. I will be looking to use the DAX trading strategy to provide some useful setups today.
DAX Index Key Levels
As for the key levels to watch today, watch out for the previous session Point of Control (POC) at 12084. Today’s initial balance is between 12071 and 12208, so watch for a momentum break of either of those two levels. The value area high is currently 12180 and the value area low is currently 12038.Here are some more levels to watch out for:
- The 5 EMA (Daily): 12136
- The 8 EMA (Daily): 12292
- The 50 EMA (Daily): 13044
- The 200 EMA (Daily): 12721
- The Daily Pivot: 12145
- The Daily R2: 12545
- The Daily S2: 11744
The DAX trading strategy produced 1 trading signals of which 1 worked out well. Remember, you can get a copy of the DAX trading strategy for yourself. All you need to do is get Sierra Chart installed on your machine. If you need a reminder of how to do that, visit the dax trading strategy page.
To keep up with the economic calendar and the latest price action, click this link to open up the DAX chart.