Wirecard are gone and Delivery Hero have arrived. Well, they’ve been around for some time, but they take Wirecard’s place on the DAX. The company is growing rapidly in the Middle East, Asia and North Africa. In Europe only in Northern and Eastern European countries. So it makes next to zero money in Germany and has little growth potential… very odd. They have Strong start this morning already, breaking up above the Friday high. Assuming the market pulls back at some point during today’s session, let’s see if the market can hold 12879 which is Friday’s point of control.

Good morning traders, it’s Monday the 24th of August and time for today’s 24-8-2020 German DAX 30 analysis.

DAX 30 Review From Last Session

During the last session, we saw the DAX 30 find a session high of 12940 and a session low of 12629 giving us a range of 311 points compared to the average daily range of 217. At the close of play last session, the market closed at 12795 which was 657 points above the 200EMA and 216 points above the 50EMA.

DAX 30 Bias

The DAX is currently Neutral.

The DAX Index index is currently Neutral with no specific trend. In fact we are pretty much range bound between 12629 and 13054, so we can either look to fade the two extremes assuming the range trading continues, or wait for a breakout above 13054 or below 12629. It’s a massive range and only exists because this morning we broke the bearish trend-defining levels. So right now the market has little directional bias. A range trading strategy may prove most effective until a new trend asserts itself.

Important DAX Levels

As for the key levels to watch today, watch out for the previous session Point of Control (POC) at 12879 and the previous session Volume Weighted Average Price (VWAP) at 12794. The value area high (VAH) is currently 12915 and the value area low (VAL) is currently 12748.

DAX Technical Indicators

IndicatorValue
RSI64
StochasticK: 71 and D: 56
MACD OSMA-4
Point of Control (POC)12879
Value Area High (VAH)12915
Value Area Low (VAL)12748
The DAX Pivot12788
The DAX R213099
The DAX S212477
Daily 5 EMA12893
Daily 8 EMA12881
Daily 50 EMA12579
Daily 200 EMA12138

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As for my index trading; during the last trading 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. Breaking down my FTSE trades, 0 were from the FTSE trading strategy (Using the DAX DTI) and 2 were from the regular morning FTSE signal. Overall, I hit 1 winner, 4 losers, and 0 break-even trades. This gave me a total profit of -1% 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.

Develop Your Trading Business

TheDaxTrader.co.uk provides top quality DAX Analysis articles every day cover various topics of technical analysis from technical indicators to naked price action. We want to help you learn to trade the DAX better. We study market geometry and share our outlooks. If you want to learn more about how we trade, you can become a member today and get access to our DAX trading strategy. We trade the strategy every day and this is where we generate our DAX signals. So come and learn the strategy for yourself.

Perhaps you want to learn how to become a signal provider for yourself? If so, learn about how to send trading signals from Metatrader 4 to Telegram. We have produced an excellent piece of software will help you do exactly that. To learn more about the DAX, visit the Wikipedia page, you will find we are mentioned there.

WIRECARD ARE GONE AND DELIVERY HERO HAVE ARRIVED
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