Good morning traders, it’s Thursday the 20th of August and time for today’s 20-8-2020 German DAX 30 analysis.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 tag a session high of 12995 and a session low of 12830 giving us a range of 165 points compared to the average daily range of 225. At the close of play last session, the market closed at 12935 which was 813 points above the 200EMA and 382 points above the 50EMA.
DAX 30 Bias
DAX Bearish below 13055.
The DAX30 index is currently showing a progressive series of lower lows and lower highs. The trend defining level is currently 13055, so the market remains bearish below that level. In order for the market to remain bearish, we need to take out 12739. I will be looking to use the DAX trading strategy to provide some useful setups today.
Important DAX 30 Levels
Moving on to the key levels to watch today, watch out for the previous session Point of Control (POC) at 12948 and the previous session Volume Weighted Average Price (VWAP) at 12921. The value area high (VAH) is currently 12968 and the value area low (VAL) is currently 12892.
DAX Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 69 |
| Stochastic | K: 54 and D: 61 |
| MACD OSMA | -3 |
| Point of Control (POC) | 12948 |
| Value Area High (VAH) | 12968 |
| Value Area Low (VAL) | 12892 |
| The DAX Pivot | 12920 |
| The DAX R2 | 13085 |
| The DAX S2 | 12755 |
| Daily 5 EMA | 12879 |
| Daily 8 EMA | 12868 |
| Daily 50 EMA | 12553 |
| Daily 200 EMA | 12122 |
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As for my index trading; during the last trading session I took a total of 4 trades (2 DAX trades and 2 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, 1 was from the FTSE trading strategy (Using the DAX DTI) and 1 was from the regular morning FTSE signal. Overall, I hit 0 winners, 0 losers, and closed 2 trades early. This gave me a total profit of 3.9% for the day (including the trades I closed around 8pm).
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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