DAX Climbs But Remains Cautious. Despite the seasonal expectations for the market to break lower, the DAX found bullish momentum yesterday; comfortably taking out the 13,000 level; testing Friday’s high and we see the price action continuing to find higher levels this morning too, after piercing yesterday’s high.
I only traded the indices twice yesterday, one trade on DAX and one trade on FTSE. Both these trades were from the signals that I send out at 9am (to members) and both trades were very close to hitting target. I closed the trades out at 8pm for a profit and you can see all the indices trading signal history on the signals page.
The negotiations on a trade pact between the European Union and Great Britain after Brexit are also increasingly in focus. These are currently going into the next round. The aim is to avoid trade barriers such as tariffs and economic chaos after the end of the Brexit transition period, but British Prime Minister Boris Johnson also stressed that a Brexit without a treaty would be “a good result for the UK”.
DAX Trading Strategy
As for my index trading; during the last trading session I took a total of 2 trades, so it was a pretty quiet session (1 DAX trade and 1 FTSE trade). No trades came from the usual DAX trading strategy (DTI) but both were from the regular morning signals as I mentioned before. These two trades gave me a cumulative total profit of 4.36% for the day. This takes my current yearly cumulative index profit up to 241% and i’m delighted.
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.
|DAX DTI||DAX DAILY||FTSE DTI||FTSE DAILY|
DAX 30 Levels To Watch
Moving over to the key levels to watch today, watch out for the previous session Point of Control (POC) at 13004 and the previous session Volume Weighted Average Price (VWAP) at 13009. The value area high (VAH) is currently 13057 and the value area low (VAL) is currently 12888.