Incredible sell-off on the DAX, and the 13130 level was not just taken out, but it was zoomed aggressively and many stop losses would have been triggered. I can only hope you all trade with stop losses. So the next major level is the key daily major pivot at 12736.

Therefore the options at the moment are:

Play a retracement back to the 13130 level and short from there if a signal presents itself, based on the reaction line below. Otherwise wait for a pullback and short on oscillator signals from the DaxTrader RSI indicator

Alternatively sitting back and watching it is not a bad decision, wait for the dust to settle and the next pivot to form before deciding the next move.

We completed a lengthy webinar earlier around programming our DaxTrader algorithm, but before we did that, we ran through the DAX and the FTSE, here is a summary video for you

02-02-2018 Dax Technical Analysis Video

 

02-02-2018 Dax Key Levels

KEY LEVELS
POC * 13003
Value Area High * 13076
Value Area Low * 12934
14 Day ATR 169.07
200 EMA 12685
50 EMA 13176
Daily R2 13432
Daily R1 13199
Daily Pivot 13066
Daily S1 12833
Daily S2 12700
*These are FXCM numbers, not futures numbers. Please be aware that FXCM can often be 5-10 points higher than futures prices