Good morning traders, it’s Tuesday the 28th of July and time for today’s 28-7-2020 German DAX 30 analysis. The money printer is in full flow in the US with another round of money drops scheduled. Gold nearly tags $2,000, which is significant in that we normally see inverse correlation between Gold and stock markets. BitCoin finally smashes the $10,000 barrier with heavy momentum, breaking beyond $11,000 for the first time in a year too. I believe in the technology behind BitCoin, but i’m very interested in Ethereum, because of its connection to DeFi (Decentralised Finance), which could revolutionise the financial sector over the next decade. That’s where I am going to spend some time over the next twelve months, learning more about Ethereum, how to program with it, how to build smart contracts and how DeFi works.
DAX 30 Review From Last Session
Back to the DAX analysis, during the last session, we saw the DAX 30 reach a session high of 12909 and a session low of 12805 giving us a range of just 104 points compared to the average daily range of 219. At the close of play last session, the market closed at 12883 which was 879 points above the 200EMA and 553 points above the 50EMA. My fears were confirmed yesterday, we had a horrible range.
Where Is The DAX Heading?
The DAX is currently Bearish.
The DAX 30 Index index is currently showing a progressive series of lower lows and lower highs. The trend defining level is currently 13214, so the market remains bearish below that level. In order for the market to remain bearish, we need to take out 12773. I will be looking to use the DAX trading strategy to provide some useful setups today.
Important DAX 30 Levels
Taking a look at the key levels to watch today, watch out for the previous session Point of Control (POC) at 12873 and the previous session Volume Weighted Average Price (VWAP) at 12861. The value area high (VAH) is currently 12881 and the value area low (VAL) is currently 12841.
DAX Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 61 |
| Stochastic | K: 24 and D: 36 |
| MACD OSMA | -25 |
| Point of Control (POC) | 12873 |
| Value Area High (VAH) | 12881 |
| Value Area Low (VAL) | 12841 |
| The DAX Pivot | 12866 |
| The DAX R2 | 12970 |
| The DAX S2 | 12762 |
| Daily 5 EMA | 12919 |
| Daily 8 EMA | 12913 |
| Daily 50 EMA | 12330 |
| Daily 200 EMA | 12004 |
Economic Calendar
To keep up with the economic calendar and the latest price action, click this link to open up the DAX chart. Here are the most important announcements for today
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As for my index trading; during the last trading session I took a total of 3 trades (2 DAX trades and 1 FTSE trade). 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 trade, 1 was from the FTSE trading strategy (Using the DAX DTI) and 0 were from the regular morning FTSE signal. Overall, I hit 0 winners, 3 losers, and 0 break-even trades. This gave me a total profit of -3% 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.
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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 want to help you learn to trade the DAX better. 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.
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