Good morning traders, it’s Friday the 14th of August and time for today’s 14-8-2020 German DAX 30 analysis. The German DAX retracement continues this morning, breaking down towards the target I discussed yesterday (what is the DAX retracement target). The 13,000 level is certainly a battle zone at the moment, carrying out for another article here DAX rejects 13,000 after strong rally. It was a very strong day for me yesterday, again with nearly double digit growth to the account from the FTSE and DAX trading. Congratulations to you guys following as well.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 get to a session high of 13103 and a session low of 12827 giving us a range of 276 points compared to the average daily range of 253. At the close of play last session, the market closed at 13080 which was 996 points above the 200EMA and 598 points above the 50EMA.
DAX 30 Bias
The DAX is currently Bullish, but the market is showing signs of breaking beyond a simple retracement. So be careful buying dips until we have a clear reversal of this bearish wave.
The DAX 30 index is currently showing a progressive series of higher highs and higher lows. The trend defining level is currently 12809, so the market remains bullish above that level. In order for the market to remain bullish, we need to take out 13104. I will again be looking to use the DAX trading strategy to provide some useful setups today.
DAX 30 Levels To Watch
Looking at the key levels to watch today, watch out for the previous session Point of Control (POC) at 12925 and the previous session Volume Weighted Average Price (VWAP) at 12976. The value area high (VAH) is currently 13042 and the value area low (VAL) is currently 12822.
DAX Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 60 |
| Stochastic | K: 92 and D: 88 |
| MACD OSMA | 13 |
| Point of Control (POC) | 12925 |
| Value Area High (VAH) | 13042 |
| Value Area Low (VAL) | 12822 |
| The DAX Pivot | 13004 |
| The DAX R2 | 13279 |
| The DAX S2 | 12728 |
| Daily 5 EMA | 12913 |
| Daily 8 EMA | 12851 |
| Daily 50 EMA | 12482 |
| Daily 200 EMA | 12084 |
Economic Calendar
To keep up with the economic calendar and the latest price action, click this link to open up the DAX chart. Here are the most important announcements for today
DAX Trading Strategy
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 FTSE trading strategy (Using the DAX DTI) and 2 were from the regular morning FTSE signal. Overall, I hit 3 winners, 3 losers, and 0 break-even trades. This gave me a total profit of 7% for the day.
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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