DAX Rally Continues Despite PMI Numbers

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The DAX rally continues despite PMI numbers failing

Morning traders. The DAX rally continues despite PMI numbers failing to win many plaudits today. Check out the economic calendar for more details. The business activity in the German private sector grew at a slightly faster pace in March. This is according to a preliminary report released by IHS Markit on Thursday. The IHS Markit Flash Germany Composite PMI Output Index stood at 52.1 this month, up from March’s multi-year low of 51.4. The growth in the services sector stood at a seven-month high. We see the Flash Germany Services PMI Business Activity Index increasing from 55.4 in March to 55.6 in April. Manufacturing activity improved slightly compared to the previous month but still remained in contraction territory as the […]

Fresh 2019 DAX Highs

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16-04-2019 Dax Technical Analysis

Good morning traders, we comfortably found fresh 2019 DAX highs this morning and the rally is honing in on that exposed POC we’ve mentioned over the last few days. Let’s take a look at the daily chart first off and I am looking at DAX CFD prices, not futures today. We have already broken to new high after the rally this morning. I would like to see if Dax has the momentum to now go on and reach the upper medium line parallel. However, for now we are comfortably at 2019 holidays and of course for completing a fifth consecutive bullish day. Dax Forecast Hourly Dax Technical Analysis Action Center Reaction (ACR) is an excellent technique to understand and use […]

15-04-2019 Dax Technical Analysis

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15-04-2019 Dax Technical Analysis

There was no article or video on Friday as I took the day off to celebrate my father’s birthday. He’s not been very well recently, so I decided to do that instead. Happy birthday Dad. Back to the DAX technical analysis, on Friday we saw the Dax pierce the 12,053 high by 6 points after holding the median line once more. This means that the pierce has technically ended the minor bearish trend. The question now is whether this rally will continue in order to reach the upper median line parallel of this fork line set. This morning we have also tested the same high as Friday and currently trade just above the 12,000 handle, though volatility seems to be quite […]

11-04-2019 Dax Technical Analysis

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11-04-2019 Dax Technical Analysis

The news wires are still constantly talking about Brexit. I have personally decided to avoid discussing the news in these articles. I’m sure you already know that Brexit has been delayed now, again, until October. Yesterday the market closed at around 50% of the range of the previous days candle. Price also did find a high near to the open of the previous day’s open. In order for this bounce to gain the mentum we would need to see a break above yesterday is high, but it looks like we are about to test the low of yesterday instead. If we break below yesterday’s low it opens the door to the 700s. Dax Technical Analysis Video Hourly Dax Technical Analysis […]

10-04-2019 Dax Technical Analysis

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10-04-2019 Dax Technical Analysis

We found 11 866 as a low for yesterday on DAX futures, and a similar level this morning too. If we look at the daily chart I am noticing that we have bounced from the median line. So today I will be watching out for any reaction from the underside of 11 930. Dax Technical Analysis Video Hourly Dax Technical Analysis Breaking below 930 yesterday means we have ended the series of higher highs and higher lows. These are indicated by the blue swing markers on the chart below. I have removed the fork line set that featured for the last few days, but I have kept the arrow which were suggesting a further move to the downside. If we […]

09-04-2019 Dax Technical Analysis

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09-04-2019 Dax Technical Analysis

Today we have already taken out the low of yesterday and have yet to challenge yesterday’s high. The closest key level to watch was 930 and we have already tagged that level and found support there this morning. We trade around 12,000 level at the time of writing but remain under pressure. Dax Technical Analysis Video Dax Hourly Technical Analysis We can see on the 60 minute chart how price is beginning to consolidate in this 11,930 to 12,030 level. There was a nice bounce from 930, but the real test would be to see whether we can break the previous high of 12,053. For now, price action is trading sideways. Dax Profiles RSI divergence is an excellent technique to […]

08-04-2019 Dax Technical Analysis

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08-04-2019 Dax Technical Analysis

Good morning traders. Fridays candle was a top-heavy inside bar with both the open and close creating new highs based on Thursdays price action. But despite closing at new 2019 highs, price action failed to break above the Thursday high and this morning we have already broken below Friday‘s low suggesting that buyers are looking for value at lower levels. During the webinar I ran a test to see how many times we’ve seen bullish inside day candles at the top of a 5-day consecutive bullish run. Here’s the basic code for Sierra Chart users. (Add a ‘Color Bar Based on Alert Condition’ study and copy/paste this code in to the ‘Alerts’ tab: =and( h<h[-1], l>l[-1], c[-1]>c[-2], c[-2]>c[-3], c[-3]>c[-4], c[-4]>c[-5], […]

05-04-2019 Dax Technical Analysis

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05-04-2019 Dax Technical Analysis

We finally found the 12,000 level yesterday with Dax futures reaching a high of 12,053. As it is NFP today, I would normally expect for price action to consolidate into a more narrow range until the release. And we are currently trading at that 12,000 level right now on futures. Dax Technical Analysis Video Hourly Dax Technical Analysis We have broken below the second upsloping low to low trend-line. I am wondering whether this may open up a move back towards the 930 zone. This move would be considered simple action/reaction. You could draw an ACR line set using that second line as the centre to predict a pullback target. I think that a retracement is now much higher probability, […]

04-04-2019 Dax Technical Analysis

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04-04-2019 Dax Technical Analysis

The Dax missed 12,000 yesterday after getting as high as 11 997.5 and then 11 990 this morning. Yesterday’s candle opened at 11 784 closed at 11 979.5 meaning a gain of 195 points. This 195 point gain comes off the back of four previous consecutive bullish candles. I have pulled a study to check all the previous times similar again had happened after consecutive bullish runs. Over the last three years it only happened three other times, here they are. and( c-o>194, c[-1]>o[-1], c[-2]>o[-2], c[-3]>o[-3])   Dax Technical Analysis Video Dax Hourly Technical Analysis Looking at the profile on the left (which begins from the major low of March 25), we can see three key levels to watch to the […]