Good morning traders, it’s Tuesday the 30th of June and time for today’s 30-06-2020 German DAX 30 analysis. I took a day off from the article yesterday, but am back!
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 get to a session high of 12289 and a session low of 11940 giving us a range of 349 points compared to the average daily range of 368. At the close of play last session, the market closed at 12275 which was 445 points above the 200EMA and 544 points above the 50EMA.
Where Is The DAX 30 Heading?
The DAX is currently Neutral.
The DAX30 index is currently Neutral with no specific trend. In fact we are pretty much range-bound between 11930 and 12343, so we can either look to fade the two extremes assuming the range trading continues, or wait for a breakout above 12343 or below 11930. The issue with a netural market, is that we can’t really use the DAX trading strategy with much positive expected value (+EV).
Coffee Break
Friend: “Can I get you a drink?”
DaxTrader: “Yes please, I’ll take a coffee”
Friend: “Sure. How do you take your coffee?”
DaxTrader: “Very, very, seriously!”
Thank you. Thank you. I’m here all week
Get that man a coffee. Smash the button!
Economic Calendar
DAX 30 Index Key Levels
As for the key levels to watch today, watch out for the previous session Point of Control (POC) at 12250 and the previous session Volume Weighted Average Price (VWAP) at 12145. The value area high (VAH) is currently 12290 and the value area low (VAL) is currently 12108.
DAX Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 45 |
| Stochastic | K: 46 and D: 48 |
| MACD OSMA | -66 |
| Point of Control (POC) | 12250 |
| Value Area High (VAH) | 12290 |
| Value Area Low (VAL) | 12108 |
| The DAX Pivot | 12168 |
| The DAX R2 | 12518 |
| The DAX S2 | 11819 |
| Daily 5 EMA | 12229 |
| Daily 8 EMA | 12233 |
| Daily 50 EMA | 11731 |
| Daily 200 EMA | 11830 |
My Trading Update
As for my index trading; during the last trading session I took a total of 6 trades (3 DAX trades and 3 FTSE trades). Breaking down my DAX trades, 1 was from the DAX trading strategy (DTI) and 2 were from the regular morning DAX signal. Breaking down my FTSE trades, 1 was from the DAX trading strategy (DTI) and 2 were from the regular morning DAX signal. Overall, I hit 1 winner, 4 losers, and 1 break-even trade. This gave me a total profit of -1% for the day. I got a bit lucky because I actually walked away from the screens but forgot to close one of my FTSE trades, that one hit the target to recover a very poor morning. So instead of a -5% day, I ended on -1%.
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.
