Good morning traders, it’s Wednesday the 17th of June and time for the 17-06-2020 German DAX 30 analysis.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 touch a session high of 12439 and a session low of 12133 giving us a range of 306 points compared to the average daily range of 357. At the close of play last session, the market closed at 12303 which was 511 points above the 200EMA and 790 points above the 50EMA. The DAX jumped around 1%.
DAX 30 Outlook
The DAX is currently Bullish again.
The DAX30 Index index is currently Neutral with no specific trend. In fact we are pretty much range bound between 12133 and 12439, so we can either look to fade the two extremes assuming the range trading continues, or wait for a breakout above 12439 or below 12133. The issue with a netural market, is that we can’t really use the DAX trading strategy with much positive expected value (+EV).. .
Coffee Break
I want to thank you lovely readers for buying me coffee, but at the same time encourage you to continue. Otherwise i’ll flush the toilet when you’re in the shower.
DAX Levels To Watch
Looking at the key levels to watch today, watch out for the previous session Point of Control (POC) at 12349 and the previous session Volume Weighted Average Price (VWAP) at 12295. The value area high (VAH) is currently 12408 and the value area low (VAL) is currently 12234. Given the recent gap, I am looking for the DAX to target the 12,600 levels. This assumes that the current Bullish momentum continues.
DAX Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 61 |
| Stochastic | K: 62 and D: 50 |
| MACD OSMA | -43 |
| Point of Control (POC) | 12349 |
| Value Area High (VAH) | 12408 |
| Value Area Low (VAL) | 12234 |
| The DAX Pivot | 12291 |
| The DAX R2 | 12598 |
| The DAX S2 | 11985 |
| Daily 5 EMA | 12282 |
| Daily 8 EMA | 12262 |
| Daily 50 EMA | 11513 |
| Daily 200 EMA | 11792 |
My Trading Update
As for my index trading; during the last trading session I took a total of 6 trades (4 DAX trades and 2 FTSE trades). Breaking down my DAX trades, 2 were from the DAX trading strategy (DTI) and 2 were from the regular morning DAX signal. Breaking down my FTSE trades, 1 was from the DAX trading strategy (DTI) and 1 was from the regular morning DAX signal. Overall, I hit 2 winners, 2 losers, and 2 break-even trades. This gave me a total profit of 1% for the day.
To keep a track of the trading results, you can read the dax trading spreadsheet. In order to get access to the signals and to the strategy, you will need to be a member of the site. Find out more about membership.
Develop Your Trading Business
TheDaxTrader.co.uk provides top quality DAX Analysis articles every day cover various topics of technical analysis from technical indicators to naked price action. We study market geometry and share our outlooks. If you want to learn more about how we trade, you can become a member today and get access to our DAX trading strategy. We trade the strategy every day and this is where we generate our DAX signals. So come and learn the strategy for yourself.
Perhaps you want to learn how to become a signal provider for yourself? If so, learn about how to send trading signals from Metatrader 4 to Telegram. We have produced an excellent piece of software will help you do exactly that. To learn more about the DAX, visit the Wikipedia page, you will find we are mentioned there.
