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11-09-2018 Dax Technical Analysis

11-09-2018 Dax

11-09-2018 Dax Lunchtime Update

The ZEW reading has outperformed expectations morning. The 10 o’clock release was expected to deliver -14.9 but was actually -7.2. See the economic calendar for more details: https://thedaxtrader.co.uk/economic-calendar/

This is ordinarily a bullish result. So let’s see whether the daily low holds or not in the afternoon session. For now, at the time of writing, it’s under pressure. Eyes on the daily low.

As for trading this morning, I called short on DAX, FTSE, ESTOX and DOW at 8:37 in the Dax chat room. I am out of all of those, but they have all done well today. Congrats to you lot if you took it. The DaxTrader VolScan (volume scanner) crushed it this morning. That was my personal trade signal this morning for DAX and it was a similar story for the others.

As for current standings, we’ve overshot the idea I initially had and taken out the Friday low. I imagine there were plenty of stops under there. Not only have we overshot the ‘reaction line’ that I discussed in the video earlier, but we’re struggling to get back above it. It looks like a kiss goodbye to the underside of that line instead. 

11-09-2018 Dax Morning Briefing

Yesterday on FDAX, after opening at 11,948, we closed at 11,999 gaining 51 points. This close breaks the 7-day consecutive day losing streak, which is positive. How significant will the close be (particularly the failure to close above 12,000)? This morning we gapped higher, comfortably above 12,000 and are trading around 12,015 at the time of writing (approx 8am).

In the webinar this morning, I discussed a few ideas for how to play the DAX today, if you missed that, then join us again tomorrow for the next one. Join this channel to ensure that you get the link.

Here’s a summary

11-09-2018 Dax Video Summary

Today, pay attention to the ZEW index @ 10am.

The ZEW is likely to provide clues as to how much the trade dispute between the US and China and the price turmoil of the Turkish lira have affected the mood and sentiment.

11-09-2018 Dax Charts

A couple of nice trades yesterday (these ones are CFD) which I was sharing in the premium channel. Congrats for those taking profits as well. We got out at a nice spot.

Dax 60-minute Analysis

I am looking at the centreline of my action centre reaction line set. If we break below this line I am watching to see if the reaction line below catches price and offers traders an opportunity to get long. Overall, on this particular chart, I am watching to see whether the price action of the last few days is forming a pivot component. A pivot component would suggest a bullish reversal. Breaking above 12,090 before breaking below 11,882 would strengthen the idea.

Dax 10-minute Analysis

The volume profile on this chart is a multi-day composite. I am using the data since they confirmed lower high on the 6th of September. We are currently testing the value area high. If we fail to break above this again, then it is more likely that we will reach the point of control around 945.

11-09-2018 DAX Key Levels