DAX, Price Action
By Claus Andersen
19. February 2020
15 min chart:
// DAX 1-1
Bulls got new all time highs again last week! Trading ranges to the bulls favor is the recent 15 min context. The bull spike came in week 6 followed by a channel. The bull trendline is now broken and all bets are off. Now price is moving sideways in a range area just below the most recent all time high. It is interesting because of the lack of conviction on the bull side. They keep getting a bit higher highs, but nothing really convincing. Even on the daily chart the last 6 bars are overlapping. As of this very moment the Monthly, Weekly and Daily price action is pointing towards higher highs AIL. On the 5 min context is a trading range. I would try to push my longs if I get some setups the last two days of the week. The price could snap into the close of the week. Meaning we could get a major price movement soon.
The rest of the week is filled with events that could fuel at BO to either side. Below is a list of the events and times I will keep and eye on.
A bit more detailed analysis in the video below.
Support and resistance was adjusted in the latest YouTube video:
Events to look out for the rest of the week when trading the DAX (GER30):
11:30 EUR ECB’s De Guindos speech !!
13:30 EUR ECB Monetary Policy Meeting Accounts !!!
14:30 USD Philadelphia Fed Manufacturing Survey (Feb) !!
14:30 USD Initial Jobless Claims (Feb 14) !!
14:30 USD Initial Jobless Claims 4-week average (Feb 14) !!
09:30 EUR Markit Manufacturing PMI (Feb) PREL !!!
09:30 EUR Markit Services PMI (Feb) PREL !!
09:30 EUR Markit PMI Composite (Feb) PREL !!!
10:00 EUR Markit Manufacturing PMI (Feb) PREL !!
10:00 EUR Markit Services PMI (Feb) PREL !!!
10:00 EUR Markit PMI Composite (Feb) PREL !!!
11:00 EUR Consumer Price Index (MoM) (Jan) !!
11:00 EUR Consumer Price Index – Core (YoY) (Jan) !!
11:00 EUR Consumer Price Index – Core (MoM) (Jan) !!
11:00 EUR Consumer Price Index (YoY) (Jan) !!
13:00 EUR ECB’s Lane speech !!
Let’s level up together 📈
AIL = Always In Long
BO = Breakout
FBO = Failed Breakout
PB = Pull Back