Good morning traders, it’s Monday the 17th of February and time for today’s German DAX 30 analysis. Most traders will be watching out for whether we can surpass last week’s highs and continue on towards 14,000. This target is not unrealistic.
DAX 30 Review From the Last Session
During the last session, we saw the DAX 30 tag a session high of 13784 and a session low of 13700 giving us a range of just 84 points. Unfortunately again for us, that style of price action is not great for our DAX trading strategy. The market was neutral ending up 24 points higher on the day. When you consider how strong the sell-off was earlier in the week, I think the recovery could be quite important. However, I am watching for this morning’s failed attempt to break the recent high to see whether we have signs of a further pullback first.
The DAX30 Index index is currently Bullish, showing a progressive series of higher highs and higher lows. The trend defining level is currently 13700, so the market remains bullish above that level. In order for the market to remain bullish, we need to take out 13797. I will again be looking to use the DAX trading strategy to provide some useful setups today.
A man went to his doctor and said, “Every time I drink my coffee, I get a stabbing pain in my right eye….”.
The doctor said I should take the spoon out.
If you think that was bad, then I clearly need coffee.
Be generous, donate a coffee to my comedy writers.
Important DAX Levels
Moving on to the key levels to watch today, watch out for the previous session Point of Control (POC) at 13734. Today’s initial balance is between 13639 and 13718, so watch for a momentum break of either of those two levels. The value area high is currently 13750 and the value area low is currently 13713. Here are some more levels to watch out for:
- The 5 EMA (Daily): 13695
- The 8 EMA (Daily): 13511
- The 50 EMA (Daily): 13875
- The 200 EMA (Daily): 13764
- The Daily Pivot: 13741
- The Daily R2: 13824
- The Daily S2: 13658
The DAX trading strategy produced plenty of trading signals but the conditions were not great on Friday. Remember, you can get a copy of the DAX trading strategy for yourself. All you need to do is get Sierra Chart installed on your machine. If you need a reminder of how to do that, visit the dax trading strategy page.
To keep up with the economic calendar and the latest price action, click this link to open up the DAX chart.
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