07-09-2018 Dax Technical Analysis

07-09-2018 Dax

07-09-2018 Dax Lunchtime Update

The DAX is at risk of seven consecutive losing trading days if we fail to close above 982 on futures today. 

The swings are currently quite clearly defined. We have lower lows and lower highs.

The trend defining level is currently 11994.5 on FDAX, so the market is bearish below that level.

We also see a simple trend channel developing, so watching a reaction to either side could be interesting. 

The original fork that I referred to this morning, in the webinar and the video, may have jumped the gun. The price has already broken below the original ‘C’ point. This is the challenge when drawing the tools without a confirmed pivot. At the moment, we are waiting for a pivot component to form. Perhaps the first sign of that process would be a break above the downsloping high-to-high trend line that you see on the image below.

 

A few changes to the indicator table screenshot from earlier.

 

07-09-2018 Dax Morning Update

Hello traders. The growing number of economic and political risks is driving more and more traders out of shares in this country. Increasing nervousness among investors is mainly caused by the international trade conflict and the currency crises in some emerging markets. China warned the US on Thursday of an escalation of the trade conflict and wants to initiate further countermeasures if necessary. Surprisingly significantly lower incoming orders for the German industry caused currently another damper.

 

07-09-2018 Dax Video

 

07-09-2018 Dax Charts

Over the last couple of days, we have discussed three reasons why the price may reach the 930 level. We discussed the swing rhythm from the previous bearish wave, as we are currently seeing a similar swing length to before. We also discussed a balance point extension. Finally, we discussed the lower median line parallel of the downsloping fork. We can now also pull a new fork from the ABC pivots.
 
Watch the video for more information.

The 10 minute chart is spending some time discussing the regression channel that you can see. I have marked out two potential retracement zones. See more details about that on the video.

As for the key levels the point of control is 12052. We have sliced through a low-volume area and are currently trading just below the value area low. See the video for more details.

There are now three consecutive exposed points of controls

 

07-09-2018 Trading Signals

This came from the volume scanner this morning. Let’s see how it gets on.

 

07-09-2018 Dax Key Levels