Share this post
Morning traders and welcome to the 30-01-2019 DAX Technical Analysis. There are lots of big company earnings coming out today: Facebook, Microsoft, PayPal, Tesla, Visa, McDonalds, AT&T, so we expect some decent movements in the indices, perhaps sometimes random movements. There is also quite a bit of economic data out too: Harmonized index of consumer prices, ADP employment change, US GDP and personal consumption and of course the fed rate decision later. Be careful out there today.
DAX Outlook
The DAX remains above 11,000 but barely moved yesterday. This is likely because of the build up to the US Federal Reserve’s first interest rate decision of the year. A rate hike is considered unlikely. Tonight we will discover their assessment and confirm whether there will be any further interest rate hikes in 2019. The Fed could signal again that it will for any further interest rate increases but at the same time slower rising profits, political turmoil such as the Brexit and the trade war can no longer be ignored. So it’s delicately balanced. If we manage to break below 11159 today, it can open the door to a move towards the 11067-11091 zone. This zone is interesting because of the confluence of two rising trend lines meeting. Look on the 60m chart below. Notice as well how the price is also threatening to make progress below the upper down-sloping high-to-high trendline.
I am not necessarily bearish today, because I think with the releases, we can see plenty of action in both directions. But that zone is an obvious target to the downside.
Yesterday we saw the price action steadily progress to the high of the day following a clean pattern of higher highs and higher lows. The high of the day would be considered a point of ‘action’. Using this action point, we can draw a centre line underneath price action (the centre line in this case is the middle line of the upsloping trio of lines) and then use this centre line to help us anticipate where price will reach upon breaking that centre line. The lower line is the ‘reaction’ line and this tool is called the ACR line set (action centre reaction). This is just one of many tools that we look at every day.
The profile from yesterday is very much normally distributed, showing a regular bell curve. The value area is central to the entire profile and the point of control is central to the value area. This suggests that we have found a balanced price point.
DAX Daily
MACD | 83.6 | BUY |
RSI | 62.32 | BUY |
Stochastic | 77.95 | SELL |
ADX | 18.97 | NEUTRAL |
CCI | 72.1 | NEUTRAL |
Aroon | 78.57 | BUY |
Alligator | 10796.73 | BUY |
Awesome Oscillator | 338.85 | BUY |
Parabolic | 11124.77 | BUY |
SuperTrend | 10970.58 | BUY |
OVERALL | BUY |
DAX Hourly
MACD | -2.53 | NEUTRAL |
RSI | 46.82 | NEUTRAL |
Stochastic | 41.35 | SELL |
ADX | 12.19 | NEUTRAL |
CCI | -140.21 | SELL |
Aroon | 50 | BUY |
Alligator | 11215.8 | BUY |
Awesome Oscillator | -11.96 | NEUTRAL |
Parabolic | 11275.11 | SELL |
SuperTrend | 11238.63 | SELL |
OVERALL | NEUTRAL |
30-01-2019 Key Levels
DAX | FTSE | DOW | ESTOXX | |
Point of Control : | 11217 | 6750 | 24383 | 3159 |
Value Area High : | 11247 | 6782 | 24540 | 3165 |
Value Area Low : | 11202 | 6734 | 24326 | 3153 |
VWAP : | 11227 | 6767 | 24491 | 3157 |
R2 : | 11337 | 6855 | 24898 | 3184 |
S2 : | 11128 | 6693 | 24091 | 3128 |
Pivot : | 11232 | 6774 | 24495 | 3156 |
Camarilla Breakout (Bull) | 11294 | 6818 | 24669 | 3171 |
Camarilla Breakout (Bear) | 11179 | 6729 | 24225 | 3140 |
Share this post
Be A Better, More Disciplined Trader
Thousands of traders use TheDaxTrader.co.uk to assist their technical analysis and many of those traders become full members of the site and enjoy remarkable improvements in their results.
We believe in sharing the very best techniques, tools and strategies with you so you can make that leap to trading full-time and building your trading business with like-minded professionals.
Additional Links
Lot Size Calculator
A useful tool to help you manage your risk when you are planning to open a position.
DAX News Feed
A page collecting the useful news stories coming from the mother-land of Germany.
Dashboard
A page collecting the useful news stories coming from the mother-land of Germany.
MY TRADING HISTORY
https://thedaxtrader.co.uk/daxtrader-signals-results/
POSITION SIZE CALCULATOR
https://thedaxtrader.co.uk/calculator.html
DAX NEWS
https://thedaxtrader.co.uk/dax-news-feed/
TRADING ACADEMY
https://thedaxtrader.co.uk/daxtrader-academy/
THE DAX STRATEGY
https://thedaxtrader.co.uk/dax-trading-strategy/
THE DAX LIVE ROOM
https://thedaxtrader.co.uk/live-trading-room/
FREE SWING TRADING BIBLE
https://thedaxtrader.co.uk/swing-trading-bible/
FREE TELEGRAM CHANNEL
https://t.me/DaxTraderChannel
ABOUT MEMBERSHIP HERE
https://thedaxtrader.co.uk/daxtrader-membership/
ECONOMIC CALENDAR
https://thedaxtrader.co.uk/economic-calendar/
LIVE DAX CHART
https://thedaxtrader.co.uk/dax-chart-interactive/