Good morning traders. Underequipped German army ever less ready for battle, damning report concludes. Crisis-hit Social Democrats start ballot on grand coalition with Merkel. If the 153-year-old labour party give the thumbs up (results to be announced on March 4th) Merkel is set to launch her fourth-term government within a few weeks. Germany’s top court could open way to bans on diesel cars which may be an interesting thread to watch.
Today we also have the Markit PMI numbers, ECB meeting (non-monetary policy), FOMC minutes and UK employment data due out. Be sure to keep an eye on the economic calendar
DaxTrader Premium
Every Monday, Wednesday and Friday we run our Premium Webinar series. During the Friday webinar, we discuss coding and programming with the view to building indicators and trading algorithms. We believe that traders need to have coding experience in order to keep up to date. We record all the webinars and have so far completed seven sessions. During that time we have built a trading algorithm (basic) and it’s running now. Last week we built the trading function, so it can open and close trades. Since Friday it has opened 11 trades (the current trade is long from 12428. However, here is the history so far (bare in mind, this is trading the minimum right now):
DaxTrader Algo Results So Far
21-02-2018 Dax Technical Analysis
Come and join the webinars and Premium channels to get a more detailed breakdown of these charts. We are consolidating, no real direction at the moment.
Watch the gap close (edit: that’s now gone)
Bulls need to take out 12534, perhaps buying from a close of the gap
Bears have large resistance zone above (between 12500-12650)
FTSE Analysis
FTSE has bounced from the major low (bullish divergence) into 7310, the previous high, which creates a range.
Buyers are interested in longs from 7200, perhaps 7155
Sellers are interested in shorts from 7300, perhaps 7270
21-08-2018 FTSE Bullish Divergence Update
21-08-2018 FTSE Levels
EuroStoxx Analysis
The Median Line was tagged yesterday and sellers stepped in. Sellers are looking to short 3440.
Buyers have also held price above the LMLH, so we are coiling right now. Buyers are buying 3415.
21-08-2018 EuroStoxx Fork
