Please excuse the delay in getting back into the DAX technical analysis articles and webinars. I have been unwell (horrible mega man-eating cold) recently. But i’m back!
08-01-2020 DAX Analysis – 60 minute
Compared to Monday yesterday was quite quiet, eventually closing around the POC. The most interesting part of yesterday’s price action was that we attempted to create a foothold above 160, which was a previous, significant, gap zone. However this morning, we’ve already gapped below that level again. This morning’s gap did manage to hold the January low of 12,941, but I still remain bearish.
08-01-2020 DAX Analysis – Daily
The blue zone is an obvious barrier to break for continuation to the downside. We are in the bottom half of the upsloping pitchfork and yesterday tagged the median line from below. Regarding the EMAs: the five is below the eight. Fresh 2020 lows await us with tensions escalating in Iran.
08-01-2020 DAX Key Levels
The large gap from last night has not yet closed and may not. We have hit the valley very low from yesterday. Should we break above today’s high (which is currently 13,141), then the obvious target would be the point of control.
DAX Trading Strategy
Yesterday I was not well and didn’t trade. I am still not recovered. Had I have traded, I would have looked for selling opportunities. Looking at the opportunities from yesterday on the trading strategy, there were three quick long signals, all of which would have failed. However, the first sell signal would have reached target nicely. Congratulations to those useing the DAX trading strategy.