14-11-2018 Dax Technical Analysis

14-11-2018 Dax

14-11-2018 DAX 30 Analysis

Daily

The DAX30 posted a slightly-bullish inside-day yesterday, closing in the bottom half of Monday’s range. This morning we have already taken out yesterday’s low and are targeting the Monday low of 297 (CFD).

Hourly

The trend remains bearish with lower lows and lower highs clearly visible on the hourly chart and the trend defining level is 597. If 297 is taken out, then the trend defining level is 493. So assuming that the trend continues, traders will be looking for shorts under 493.

The Price Action

Today, we opened up inside yesterday’s value area and tested the value area high within the first five minutes. The price was quickly rejected and within the first hour of trading, we had found the value area low and broken the previous day’s low. It offers a few interesting things to watch for. Firstly, look for the value area low to provide resistance. If we take out Monday’s low, look for yesterday’s low to perhaps provide resistance.

Signals

Signals page: https://thedaxtrader.co.uk/signals  (password required)

Learn more about membership: https://thedaxtrader.co.uk/daxtrader-membership/

A mixed bag over the last few days. The set and forget signals have under-performed (see below), however I have managed to plug-in one of my trading platforms to a live stream, which is broadcast to the signals page for members which provides additional intra-day momentum signals for DAX, FTSE, DOW and EuroStoxx (see image below table).

# Date Mkt Type Entry SL TP RvR Close Pips Return Balance
450 09-Nov FTSE S 7088 7103 7043 3.00% SL -15 -0.20% 31,764
451 09-Nov FTSE S 7088 7103 7043 3.00% SL -15 -0.20% 31,701
452 09-Nov ESTOXX S 3208 3217 3180 3.11% SL -9 -0.20% 31,638
453 09-Nov ESTOXX L 3226 3217 3254 3.11% SL -9 -0.20% 31,574
454 09-Nov ESTOXX L 3226 3217 3254 3.11% SL -9 -0.20% 31,511
455 09-Nov DAX L 11495 11454 11616 2.95% 11550 55 0.26% 31,593
456 12-Nov GBPUSD L 1.28541 1.2815 1.3 3.73% 1.2894 40 0.34% 31,700
457 13-Nov FTSE S 7061 7081 7001 3.00% 7070 -9 -0.45% 31,558
458 13-Nov ESTOXX S 3198 3212 3158 2.86% SL -14 -1.00% 31,242
459 13-Nov FTSE S 7061 7081 7001 3.00% 7021 40 1.00% 31,555
460 13-Nov ESTOXX S 3225 3212 3266 3.15% SL 13 -0.50% 31,397

14-11-2018 Key Levels

  DAX FTSE DOW ESTOXX
POC: 11414 7052 25450 3205
Value Area High: 11430 7071 25568 3215
Value Area Low: 11357 7037 25354 3201
VWAP: 11411 7056 25409 3210
R2: 11577 7139 25791 3242
S2: 11247 6967 25025 3176
Pivot: 11412 7053 25408 3209
Camarilla Breakout (Bull) 11505 7088 25637 3223
Camarilla Breakout (Bear) 11323 6994 25216 3186

News

Brexit

European equities traded in the red in early trade today despite the United Kingdom and the European Union agreeing on the draft text of a Brexit deal, following months of negotiations. According to the agreement, the whole of the UK will remain in EU’s customs union, while a special arrangement is envisioned for Northern Ireland, which would partially remain in the bloc’s single market. Prime Minister Theresa May will hold a cabinet meeting scheduled for 3:00 pm CET today in order to secure support for her new deal.

Economic Data

On the data front, German GDP numbers came in earlier today, both numbers were slightly below expectations. The ZEW yesterday was slightly more pessimistic than expected too, all of which are contributing to the current bearish momentum.

 

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