Good morning traders, it’s Tuesday the 23rd of June and time for today’s 23-06-2020 DAX 30 analysis. Wirecard continues to dominate headlines after its epic failure to protect its shareholders. The company is involved in by a billion-Euro balance sheet scandal, on par with the severity of Enron. We see a small attempt to recover with shares rising by a good 4 percent. But we’ve seen a 60 percent drop in the Wirecard share price last Thursday which is the second-largest daily loss of a Dax security in [nearly] 32-year history.

I doubt the company will recover from this and another payment processor will come along and pick up the pieces. Yes, the Wirecard shares are much cheaper, but never would I buy into a company that does that, it’s game over for them. When the company admits that bank balances on trust accounts totalling 1.9 billion euros “do not exist with a high degree of probability” then there can only be one explanation: fraudulent documents. What a fail!

23-06-2020 DAX 30 Review From Last Session

During the last session, we saw the DAX 30 reach a session high of 12378 and a session low of 12084 giving us a range of 294 points compared to the average daily range of 354. At the close of play last session, the market closed at 12312 which was 502 points above the 200EMA and 689 points above the 50EMA.

23-06-2020 DAX 30 Analysis Outlook and Bias

The DAX is currently Neutral.

The German DAX 30 index is currently Neutral with no specific trend. In fact, we are pretty much range-bound between 12084 and 12491, so we can either look to fade the two extremes assuming the range trading continues, or wait for a breakout above 12491 or below 12084. The issue with a neutral market is that we can’t really use the DAX trading strategy with much positive expected value (+EV).

23-06-2020 DAX 30 Analysis

23-06-2020 DAX 30 Analysis – Key Levels

Taking a look at the key levels to watch today, watch out for the previous session Point of Control (POC) at 12288 and the previous session Volume Weighted Average Price (VWAP) at 12248. The value area high (VAH) is currently 12307 and the value area low (VAL) is currently 12195.

DAX Technical Indicators

IndicatorValue
RSI46
StochasticK: 61 and D: 53
MACD OSMA-58
Point of Control (POC)12288
Value Area High (VAH)12307
Value Area Low (VAL)12195
The DAX Pivot12258
The DAX R212552
The DAX S211964
Daily 5 EMA12282
Daily 8 EMA12269
Daily 50 EMA11623
Daily 200 EMA11810
23-06-2020 DAX 30 Analysis

My Trading Update

As for my index trading; during the last trading session, I took a total of 5 trades (2 DAX trades and 3 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, 2 were from the DAX trading strategy (DTI) and 1 was from the regular morning DAX signal. Overall, I hit 0 winners, 5 losers, and 0 break-even trades. This gave me a total profit of -5% for the day. Not good, but it happens sometimes.

DAX Signals

The DAX trading strategy continues to provide plenty of opportunities for you guys, so congrats to those that have invested the time and effort to get that set up on their Sierra charts. Learning the strategy allows you to take control of the opportunities and choose which ones fit your trading style. As for the signals I send out in the morning (9 am daily), I have earned a 33.92% return since April 2020 on DAX and 5.92% return on FTSE since 28th May – which is when I began trading FTSE again.

Forex Signals

We’re nearly at the midway point of 2020 and the current forex trading results are doing very well. I am currently at +74.97% for the year after adding +23.06% in quarter 2, so I’m ahead of where I was this time last year, in terms of return. Lockdown has not affected trading that much, so I can not complain. See more of the fx trading signal results.

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.

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