The House of Lords has passed the Brexit bill without the EU citizens’ rights or final vote amendments. This has opened the door for Theresa May to trigger article 50, but I think she will bide her time. In terms of her “project plan” she has just bought herself an extra 2 weeks contingency time by getting this bill passed before the end of the month deadline. Uncertainty may pick up between now and then, but ultimately, this is where Brexit becomes very real for those who have been burying their head in the sand.
Watch out for the German ZEW numbers.
Daily Dax Chart
The most obvious signal that exists on this chart is the bearish divergence that we mentioned yesterday, with a break below 11915 making it more compelling. We closed above 12,000 yesterday but have since retraced and are currently trading around the February high.
Overall, the technical trend is still Bullish above 11700.
There are no major impact news events for the next couple of days according to the FXCM economic calendar app.
Dax Hourly Chart
This chart still gives the impression that we are trading sideways, but once more there is no clear signal emerging here just yet. As I write this part of the article, I have just received an alert from one of my trading platforms (hosted on my server, which monitors 16 charts). The signal was FTSE and it was bearish divergence on the hourly chart, so I am going to be watching out for further bearish signals on indices and bullish signals on Gold to help us decide whether a change in bias is needed.
I still would like to think that this recent support is strong enough to hold, let’s see.
Dax Intraday Chart
Yesterday was quite tame in terms of price action, we managed to get some decent trades, but the price did not seem to gain much traction and simply oscillated around the 50 hour EMA and daily pivot, comfortably inside the Bollinger bands. Once more, there is no real signal here.
We are on the current daily pivot now (pivot point indicator) so it’s challenging to see the next move at the moment.
Dax Trader Signals
If you’re interested in receiving live trading signals for the Dax, come and join the community. Three months of signals will cost £94 and can be purchased using this link: https://www.paypal.me/DaxTrader54/94 . In the meantime come and join my broadcast channel on Telegram messenger, it’s here that I broadcast additional Dax analysis and messages to my readers and subscribers. For the rest of the month, it is very easy to get access, please download the Telegram messenger (from www.telegram.org) and then click this link: https://t.me/joinchat/AAAAAEAypsW3Xet_6ngBlw
Here is a list of the trades from the Dax algo yesterday (including some short-term forex trades – included in premium):
The Trading Exchange, [13.03.17 07:09] CLOSE DAYTRADE BUY #GBPUSD @ 1.22211 | PROFIT: 42.03 PIPS | 2017.03.13 07:08 (GMT) | ID 61312404
The Trading Exchange, [13.03.17 08:04] DAYTRADE BUY #GER30 @ 11956.40 | SL:11928.60 | TP:12022.43 | 2017.03.13 08:04 (GMT) | ID 61397996
The Trading Exchange, [13.03.17 08:52] CLOSE DAYTRADE BUY #GER30 @ 11983.35 | PROFIT: 25.91 PIPS | 2017.03.13 08:52 (GMT) | ID 61397996
The Trading Exchange, [13.03.17 09:25] DAYTRADE BUY #GER30 @ 11966.65 | SL:11941.73 | TP:12025.83 | 2017.03.13 09:25 (GMT) | ID 61400735
The Trading Exchange, [13.03.17 10:43] CLOSE DAYTRADE BUY #GER30 @ 11974.60 | PROFIT: 7.64 PIPS | 2017.03.13 10:43 (GMT) | ID 61400735
The Trading Exchange, [13.03.17 11:07] DAYTRADE BUY #GER30 @ 11965.45 | SL:11945.01 | TP:12013.99 | 2017.03.13 11:07 (GMT) | ID 61403412
The Trading Exchange, [13.03.17 11:37] CLOSE DAYTRADE BUY #GER30 @ 11978.60 | PROFIT: 12.64 PIPS | 2017.03.13 11:37 (GMT) | ID 61403412
The Trading Exchange, [13.03.17 20:06] CLOSE DAYTRADE SELL #EURUSD @ 1.06552 | PROFIT: 13.73 PIPS | 2017.03.13 20:06 (GMT) | ID 61373308