Good morning traders, it’s Thursday the 18th of June and time for today’s German DAX 30 analysis. Perhaps we see some profit taking today as the market begins to consolidate. There has been no important news in the past few hours about the corona pandemic, which continues to have a grip on the financial markets. During the course of the day, the weekly initial applications for US unemployment benefits will include news about the US labor market that has recently been badly hit by the crisis.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 touch a session high of 12438 and a session low of 12220 giving us a range of 218 points compared to the average daily range of 360. At the close of play last session, the market closed at 12344 which was 547 points above the 200EMA and 800 points above the 50EMA.
DAX 30 Outlook
The DAX is currently Neutral.
The DAX 30 index is currently Neutral with no specific trend. In fact we are pretty much range bound between 12162 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 12162. The issue with a netural market, is that we can’t really use the DAX trading strategy with much positive expected value (+EV).
DAX Index Key Levels
Looking at the key levels to watch today, watch out for the previous session Point of Control (POC) at 12401 and the previous session Volume Weighted Average Price (VWAP) at 12372. The value area high (VAH) is currently 12424 and the value area low (VAL) is currently 12354.
DAX Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 60 |
| Stochastic | K: 57 and D: 55 |
| MACD OSMA | -47 |
| Point of Control (POC) | 12401 |
| Value Area High (VAH) | 12424 |
| Value Area Low (VAL) | 12354 |
| The DAX Pivot | 12334 |
| The DAX R2 | 12552 |
| The DAX S2 | 12116 |
| Daily 5 EMA | 12292 |
| Daily 8 EMA | 12271 |
| Daily 50 EMA | 11544 |
| Daily 200 EMA | 11797 |
My Trading Update
As for my index trading; during the last trading session I took a total of 4 trades (2 DAX trades and 2 FTSE trades). Breaking down my DAX trades, 1 was from the DAX trading strategy (DTI) and 1 was 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 0 winners, 4 losers, and 0 break-even trades. This gave me a total profit of -4% 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.
