First of all, my presentation of the current DAX situation in detail in the video, before we go into more detail with the charts:
For the entire trading day you could again get a high Momentum observe, which continued the start of the week in the pre-stock market and further premiums. We will now go into more detail on this.
DAX momentum remains on the upside
After the takeover of Credit Suisse by UBS and a calming down in the banking sector, Tuesday started very positively in the DAX. We already reached 15,050 in the pre-market and had thus uncovered further potential, which in the Tuesday analysis on 03/21/2023 was first sketched like this (retrospective):
At the start of XETRA, this mark was a potential entry point in the direction of the trend, since we encountered it from the top. I used this in live trading as follows:
Please join me again in the Live trading webinar for the DAX opening to the first concrete trading ideas and their implementation from 8.55 a.m.:
In the further course, the high points from Friday and thus the starting point of the downward movement were started. They initially offered resistance at 15,150, but were ultimately just a way station on the way up:
The GAP did not close and the index closed near the daily high for another bullish day. Once again, the banks were the winners, ensuring a firm overall market.
To compare the view of the Data from the Frankfurt Stock Exchange at this point:
Looking at Wall Street, that strength was evident there as well. We’ll go into that here.
Wall Street vor dem FED-Event stark
Banks in the US also made significant gains, as did some energy companies.
This was thanks in particular to the lightened mood seen in the Fear and Greed Index:
Interim attempts GAP close, did not quite reach the goal:
I’ll be happy to show you again how I implement this in US trading with specific trades today from 2.25 p.m – please note the time change in the USA:
At the closing price, all US indices then recorded a profit and the market-wide S&P500 even conquered the 4,000 mark:
What can be derived from this mix for the DAX?
Trade ideas for 03/22/2023
Yesterday’s analysis outlined the following setup in the big picture:
In a very bullish expansion, the renewed range touch around 15,250 can also be calculated. I have shown this scenario in the medium-term chart here:
In fact, this was the full extent we saw yesterday:
This brings the DAX to a range of 800 points this week:
From the pre-exchange, the momentum has now ended at the mark outlined. There could be a direct countermovement here, which can then include, for example, yesterday’s GAP in XETRA trading as the first target and Friday’s highs as further consolidation:
A further penetration into the range would be equivalent to a short squeeze, but cannot be ruled out in the current situation. However, I think it is the less likely option ahead of the US Federal Reserve Board meeting.
We look forward to today’s opening in the DAX together as Live trading webinar DAX opening and first concrete trading ideas with implementation from 8.55 a.m.:
My tools and other cornerstones for trading
I will implement my setups with CFDs and futures. I primarily deal with that Broker JFD and these conditions and use for them Chart analysis tool StereoTrader.
We like to talk about what is happening in the market in the live trading room. Sign up for the Access to the live trading room here free of charge – the dates are anchored in the teaser image:
On the Twitch channel FIT4FINANZEN you will be presented with further detailed inspiration and opinions. Feel free to watch it for free and over several hours, in which other traders and speakers LIVE comment on the course of trading and other financial data in HD and discuss their approach:
Appointments for Wednesday
A look at the others quarterly figures I have also prepared and posted for you here for the new week. GameStop was already exciting last night:
You can see the other earnings of the week here:
The FED meeting of the US Federal Reserve is at the top of the agenda today. However, this event is only after the XETRA close. Please register here:
ECB President Christine Lagarde will speak again in the morning. At 10:00 a.m. the current account of the EU will be published.
Crude oil inventories from the USA are still important in the early afternoon.
Here is the daily summary:
I got these key points from the economic calendar taken from this page.
You will receive all chart images from this analysis in advance as an email.
With that, I wish us a lot of success in trading in the new week.
Yours Andreas Bernstein
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