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DAX Index 3-7 September


Day trading updates:

  • 03 September
  • 04  September
  • 05 September
  • 06 September
  • 07 September



DAX a bit fail with finishing last week rally. 12630/70 targets was just in grasp. Most of rally happens at Monday without participation of London Stock Exchange due to holidays. 

Rest of week price slowly made way back under breakout point, ending week with lowest point near 12300


What can we look for this week:


Not easy job, at first buyers will have to deal with end of week correction, take out again 12430/50 and send price above last week highs.

That achievement can create opportunity to breakout from 12600/700 range and tag major down trend line. 


Sellers will have to erase last week rally by sending price under 12300 for target 12220, that can open path to retest August lows and beyond. 

Be also ready for small bounce towards 12410-50 before next leg down.

Strong sell off which could challenge 12140/00 can open route under 12k mark with target 11730.


Lets see what bring us Monday open and EU session. Base on that perhaps we will se more clearly direction. Right now price is in middle of nowhere . 

Will update daily trading charts as action unfolds. 

Good luck!


Update 3.09



Slow day and price didn’t change almost at all, DAX traded between 12350 and 300. Few swings top and bottom during EU session and is now dead after EU close due US holidays.

DAX have chance to pullback towards 410/50 if today build base and will try catch-up FTSE100/DOWJ

FTSE100, DOWJ, OIL enjoyed bounce from Friday lows but DAX and EU50 stays flat which is quite odd.


Update 04.09



After yesterday quiet session it  today  feels like DAX tried catch 2 day move at once. 

DAX open  higher and rally close to resistance 12410 (12404) , at that point massive sell off started and before US sesion price slide over 200p to lowest 12160

We will be looking for consolidation between lows and 12300 with possible leg lower, price push under 12140 will open path to 12k mark and lower. 

Sellers all ready finished this week target, closed August gap at 12220 and we now just looking if target extension will be available under 12k

Buyers can be trying save higher low and rally with target above last week highs. Not easy job after strong decline. However success here can send DAX towards upper trend line with targets near 12800


Update 05.09


DAX hit August lows and reach lower at 12077.


There was not consolidation or not much after yesterday. Hard to count few second long spike at beginning of night. Spike hit 12285 but open and collapsed in mater of seconds so perhaps bunch of order trigger in thin market  .


Right now will be looking for rally towards upper down trend line, planing in case rally to 12300 then pullback, higher low 12100-160 and rally with targets 12630/740/800 *invalid*


DAX is heavy under pressure so plan B is short from 300 in case lows not hold. 

Sell targets are ATM 12000/11910/ 11830/11730


Right now 12140 is red line holding future advance 

That resistance need to get clear for signal be valid and last support holds at 12085 
*invalid*


Update 06.09 


Yesterday support 12085 did not hold and price continue on slide lower reaching 11935 at lower point, It feels like buyers retreated completely and there was not much attempts to save any supports in this zone. 

Just recently stabilize a bit on lows and going higher to test 12k but beside day trading opportunity is risky  when there is not much interest to hold any support.

So we can have bounce towards 12085/144 or even 12220/330 but this can be just to reduce oversold conditions and reload on shorts. Need something good to happens for price escape from this pressure. 

Sellers in control and targets : 11840/11730/11680 

Lets see if we have any base for setup next week after last day of this week


Update 07.09



Sellers didn’t reach next support 11840 and sell off bit slowed down today, too early to see it as certain signals for rebound rally but chances are bigger after today.

Also Trump shiet talk didn’t put much impact or at least not jet and uncover buying action near 11900. 

Will work out next week options during weekend and mean while have good time!


EU STOCKS 

Maybe that chart below helps understand sentiment to EU Stock, right now investors pulling out money from EU for 25 weeks all ready with total wipe of $40 Billions, chart and numbers  are related to EU50 Index but DAX is it this same situation with gains under -4% since January.  


https://www.bloomberg.com/news/articles/2018-09-03/after-40-billion-exit-morgan-stanley-says-give-europe-a-chance?srnd=premium-europe

Current gaps DAX Cash / Futures


Risk calendar


Resistance and turning points

https://www.barchart.com/futures/quotes/DYY00/cheat-sheet

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