Let’s just jump to the Key DAX Levels for 16-09-2020 in a moment. There was a cautiously optimistic mood on the DAX yesterday after good economic data. The economic expectations of German financial experts have surprisingly brightened. According to the Mannheim Center for European Economic Research (ZEW), the indicator it collected rose in September. Analysts, on the other hand, had expected a decline on average.
That’s pretty much all there is to report on, not a great deal to say today; everyone is waiting for the Fed decision. I personally find it a bit of a non-event; I don’t care too much for the Fed rate and I don’t care much for trading the news. Today is another one of those days that only really starts in the evening. Everyone gets so excited for the Fed announcement and more often than not are disappointed about the outcome.
Key Levels for 16-09-2020
Looking at the key levels to watch today, watch out for the previous session Point of Control (POC) at 13217 and the previous session Volume Weighted Average Price (VWAP) at 13210. The value area high (VAH) is currently 13248 and the value area low (VAL) is currently 13198.
|Stochastic||K: 68 and D: 64|
|Point of Control (POC)||13217|
|Value Area High (VAH)||13248|
|Value Area Low (VAL)||13198|
|The DAX Pivot||13205|
|The DAX R2||13333|
|The DAX S2||13077|
|Daily 5 EMA||13190|
|Daily 8 EMA||13163|
|Daily 50 EMA||12848|
|Daily 200 EMA||12291|
DAX 30 Index Outlook
The DAX is currently Bullish.
The DAX index is currently showing a progressive series of higher highs and higher lows. The trend defining level is currently 13095, so the market remains bullish above that level. In order for the market to remain bullish, we need to take out 13339.
DAX Trading Strategy
The main highlight yesterday for me was a nice long on FTSE from the daily signals that I send to the member’s channel around 9am UK time. The long ran to target (which had a 3:1 reward ratio). This comfortably covered the previous loss I made on a FTSE short earlier in the session. I took a total of 5 trades (3 DAX trades and 2 FTSE trades). Breaking down my DAX trades, 1 was from the DAX trading strategy (DTI) and 2 were from the regular morning DAX signal. Both my FTSE trades came from the regular morning FTSE signal. Overall, I hit 1 winner, 3 losers, and closed one trade early.
|DAX DTI||DAX DAILY||FTSE DTI||FTSE DAILY|