09-08-2018 Dax Technical Analysis

09-08-2018 Dax

Good morning traders. It was my birthday yesterday, so I was not at the screens, hence the lack of an article. But my strategies were still active, my algos were still switched on, so trades were still made. Today, the head is sore, but life goes on. I spent the day yesterday rock climbing, outdoors (top rope), learning how to ascend various sandstone routes. Then it was down to the beach for food, drinks and two birthday cakes. Thank you all for the birthday messages. Let’s get back to work.

The trade dispute between the US and China remains the biggest threat. However, the reporting season is picking up speed. Deutsche Telekom, Adidas, Merck and Thyssenkrupp present their interim results.

The biggest winners in the Dax yesterday included the securities of the chip producer Infineon (+ 1.16%) and the software group SAP (+ 1.00%). The technology sector was one of Europe’s most sought-after sectors by midweek. The papers of the German post office tied on the index tip with plus 1.37 per cent to their before-day profits.  The reinsurer Munich Re and the utility E.On were in focus. The Munich Group could not convince the investors with the numbers and displeasure among the investors was caused by larger than expected major losses. E.On’s balance sheet did not perform well – despite a jump in profits in the operating business – and the share price fell.

Look at the DAX futures market for yesterday, we opened at 12,642, closed at 12,603, with a range of 122 points (high: 12,700 and ow: 12,578). The two hour IB (opening range) was 12,608-12,652. The volume value area was 12,604-12,648 and this morning we open at 12,620. The rest of the key levels are below.

As for CFD, the 50 SMA 12,630 is still below the 200 SMA 12,758. 

Regarding trading, yesterday there was a nice BBRSI trade (signal) which closed for +74.8 points.

Type: BUY
Symbol: GER30
Price: 12594.10
SL: 12576.25
TP: 12668.47
Time: 08:21
Ticket: 17978403
RVR: 4.17

This is added to the trade (signal) from tuesday which closed out for +58.2 points. 

Type: SELL
Symbol: GER30
Price: 12711.93
SL: 12722.65
TP: 12641.39
Time: 11:45
Ticket: 17970962
RVR: 6.58

The volume scanner, the envelope strategy and the RSID strategy are also all doing very well, so there are plenty of trading opportunities to explore at the moment. These strategies are available for premium and gold members.

09-08-2018 Dax Charts

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This is the current state of play on the 60m #fdax chart. We currently sit underneath the center line although making higher lows and forming a wide channel. Watch that rising support (draw an upsloping low to low trendline)
dax #dax30 #minidax

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We are currently testing the rising support zone here. How significant was the Lower High (LH) yesterday? For me, it’s more significant if we break the previous Higher Low (HL).

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09-08-2018 Dax Key Levels

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POC * 12616
Value Area High 12647
Value Area Low 12602
VWAP 12631
IB High 12640
IB Low 12605
R2 12749
S2 12505
Pivot 12627
Camarilla Breakout (Bull) 12670
Camarilla Breakout (Bear) 12536