DAX Closed Yesterday Down -0.68%

The Daily View for DAX

  • Currently, DAX’s price is down -104.58 (-0.68%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of DAX.

DAX

Featured DAX Idea From TradingView

Below is a trading comment entitled Renko Charting – How it works & how to trade them for big profit you may find interesting:

Dear tradersIn this in-depth post, I will show you everything you need to know about Renko charting, how they work, how to set them up, and how to realize significant profits with this fantastic chart technic.Renko charts are based on so-called bricks, which are build by price movement. Those bricks are built on two inputs, brick size and refresh time. And there, the most misconceptions are already starting. RENKO REFRESH / CONFIRMATION TIME The refresh time !!!! I have seen so many guides about Renko charting and how cool they are, but 99% of them don’t talk about the refresh time! Renko charts look good on a, let’s say, 50 brize size and a 1hour refresh time. BUT THEY DON’T WORK LIKE THIS!Here is an example of two Bitcoin Renko charts with the same brick size of 50. One of them works, and on-off them doesn’t work at all for trading. Can you spot the difference?Both charts show the chart based from the 26th until the current live price. But they look different… https://www.tradingview.com/x/790TkDOg/ Bitcoin Renko Chart example 1 https://www.tradingview.com/x/r3E0bRpy/ Bitcoin Renko Chart example 2The difference is within the refresh time. So, for example, on the Bitcoin Renko Chart example 1, we are using a 1 Hour refresh time, and on Example 2, we are using a 15 second refresh time. But what does that mean?On classic Candlestick charts, we choose the time frame of each candle. For example, let’s say 1 Hour candles or 5minute candles. This means each candle represents the price changes within this time frame.Once we are looking at a Renko chart, we are not looking at the time. We are looking at price movements. That’s why we define the size of a Renko brick. We don’t care about how long it needs to build a 50 Points Renko brick. We care about the bricks are being constructed.So if we have a Renko chart like the example, 1 with a 1 Hour “refresh,” or let’s call it confirmation timeframe, the bricks will be confirmed once an hour has passed by. Here is an example with Numbers. 1 hour refresh time 1 hour refresh timeToday at 2 pm, we have a Bitcoin price, for example, of 40.000, and we have a green brick confirmed at this point. Now at 2.15 pm, the Price dips down to 35.000, and at 2.59 pm, it jumps back to 41.000 and holds there until 3.00 pm. This means two new green bricks have been build and confirmed (2x 50 Points from 40.000 –> 41.000). But why is the price drop to 35.000 not being shown or displayed? It’s simple… because the Price moved within this 1 Hour refresh time. Bricks are being confirmed after the refresh time. So the Price can do whatever he wants within this time. In the end, it only counts the Price at 3 pm since it’s set on a 1 hour refresh time.And that’s the reason why there is only 1 Time Frame / Refresh time for Renko charts! 1min or even, if possible lower! Because we don’t care about TIME! We care about the price change. And with, let’s say, a 15 second refresh time, the chart checks every 15 seconds whats the current Price is and confirms a new brick-based on that. Here you can see the same price movement with two different refresh times. https://www.tradingview.com/x/elcwYx92/ As you can see, those two charts look significantly different even if it’s the same price movement. And then you have people using Renko with a 1 hour refresh time and wonder why they have lost their trade even if two new green bricks are built… Again on Renko charting, we are looking at price changes, not time! That’s why we want the refresh rate as short as possible (1min or below). You might ask, “But then i have a red and green brick every 15 seconds and maybe have 100 trades within a few mins???” NO! This is where the brick size comes into place. Selecting the right brick size is one of the essential things to trade Renko successfully. RENKO BRICK SIZES Renko brick sizes are essential to trade successfully. Keep in mind that every single Symbol, whether Bitcoin , EUR/USD , or a Tesla Stock , needs its individual brick size, matched to your trading style and the Symbol price movements.Brick sizes determine how your chart looks. The same chart with the same refresh time (which we talked about above) could look diffrent. Here are two examples at the Tesla Stock . Left side (50 Points brick size) Right side (5 Points brick size) https://www.tradingview.com/x/XkwP7NAw/ As you can see, we have the same Symbol but with different brick sizes. on the left side, we see the Tesla Stock with a 50 Point brick size which shows only 32 Renko bricks since January 2020. On the other hand, we see the chart on the right chart the Tesla Stock with a 5 Point brick size which shows thousands of Renko bricks.With that said, brick sizes determine how many bricks we see. This is important to fit it to your trading style. A long-term Investor might use the left chart with the 50 Points bricks when a daytrader uses the 5 Points chart.You might ask yourself now, why? It’s kinda “simple”. Let’s say I am a long-term investor, and I am looking for a Stock that I can buy for the next 2-10 years, and i need a “good” price to enter for the long-term Investment.On the Chart below, you can see the Tesla Stock with a 10 Points brick size. As you can see, there are not as many Bricks as we would have on a 1 Point brick size, for example, but this chart could help a long-term investor find a good entry for a long position. For instance, he might look at the chart and Buys Tesla Shares after a period of Red bricks once a new green brick appears and sells them once a new red brick have been formed. https://www.tradingview.com/x/l5mHj94d/ As you can see in that red brick period, we have a green brick that would trigger a long signal, but that’s normal —That’s why you have to work with a matching Stop-Loss Management. Most common and good Stop- Loss Managements include 2-3x your brick size. That means if you are trading on a 10 Points brick chart. Your Stop-Loss could be 20 or 30 Points below your entry. On our Tesla example above, that would mean a long-term investor on this chart would have a 5.5% Stop-Loss Limit, since each brick of 10 Points equals around 2.8%But now we still have the question how do I determine my brick size? There are different ways to determine your brick size, and there are two brick size options as well. You can either use traditional brick sizes or ATR brick sizes. TRADITIONAL VS ATR BRICKS Traditional bricks are simple. You go to your chart…

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