25-01-2018 Dax Technical Analysis

Scroll down to the Dax Charts for the DAX analysis.

Watch out for the ECB rate decision a little later on as well as the ECB press conference. There is chatter in our room about the possibility of a Dovish stance due to the strength of the Euro. It’s difficult to know for sure without being an insider, however, be cautious with any open DAX positions.

2018-01-25_0915

25-01-2018 Dax Outlook

We have Gold at the highest levels since 2016, we have the Euro at the highest level since 2014 and we have the US Dollar under heavy pressure, perhaps thanks to comments from Mnuchin. We can also add to this because Asian equities retreat and US equities retreat as well. So why would anyone want to remain Bullish after that?

Rather than have a speculative bias on whether or not the DAX is going up or down, it pays to stick to the facts. If we use a 4-hour chart (or something similar), you can clearly see the swings. We have recently put in a confirmed swing low (a higher low) and therefore we are in a confirmed trend. The trend defining level is 13130 and therefore the market is bullish above 13130. 

Overall: We are watching a reaction at 13,350

Dax Trader Premium Update

Three trades were closed yesterday; two DAX trades (longs – both stopped out) and a DOW trade (long – hit the target). The overall result was a gain of 0.62% to the account (or 114 points profit). The DAX losses were a little annoying, but that’s always a problem when you take a long into a sell off. It’s catching the knife.

See the results (scroll down the page about half way to see the spreadsheet)

I had marked out a number of areas to watch including the 500 zone, the 425 zone, and the 350 zone and I decided to trade each of those levels. There was even a good spot this morning when that 350 level was tagged.

Yesterday in the Premium Webinar (Wednesday is all about Swing Trading) we discussed: bankroll management and understand the coupling of the 3:1 reward to risk mentality and the 1% risk mentality. Tomorrow in the Premium Webinar we continue our creation and development of a Trading Algorithm (Friday is all about Programming and Coding).

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KEY LEVELS
POC *13557
Value Area High *13578
Value Area Low *13435
14 Day ATR130.06
200 EMA12660
Daily R213664
Daily R113545
Daily Pivot13459
Daily S113341
Daily S213255
*These are FXCM numbers, not futures numbers. Please be aware that FXCM can often be 5-10 points higher than futures prices

 

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