11-10-2018 Technical Analysis Levels

11-10-2018 Technical Analysis

Morning traders.

I imagine the majority are looking for reasons as to why the sell-off yesterday was so aggressive. Massive financial meltdown pending? Interest rate speculation? Trade war hangover? Taper tantrums? Inflation issues? Geo-political? Economic? A combination of everything? Whatever it was, it has created a mess and the pieces and debris are still scattered all over the floor. What a ride. 

So, what we know is the DAX has now printed seven consecutive lower lows on the daily chart. We closed yesterday at the lowest levels since February 2017. Yet we gap lower again this morning. And it wasn’t a small gap either. It was 150 points! So within a 24 hour period, the DAX lost nearly 500 points. Probably the most common question around the retail community is, “how much longer can this continue before a pullback happens.” Well, don’t forget that the DAX always used to be a volatile market, high daily range with large moves, so perhaps this is just a [welcome] return to those days, because it brings opportunity. When we trade, we want momentum. We want moves that run. So I welcome it.

The News

European stock index futures pointed to a sharply lower open on Thursday with markets hit by the selloff on Wall Street. During the previous session, United States markets tumbled on concerns over rising interest rates as the Dow Jones plunged over 800 points. Following the selloff, yields on US Treasuries declined for the first time in days after jumping to multi-year highs earlier in the week. Meanwhile, US President Donald Trump strongly criticized the US Federal Reserve for tightening its monetary policy, claiming the central bank has “gone crazy.” Trump also claimed the selloff represented a “correction that we’ve been waiting for for a long time.”

The price reduction at Wirecard was particularly strong in Germany . The share price of the recent DAX addition, fell by 16 percent. Wednesday started bearish, but in the afternoon additional pressure came from the USA. On Wall Street, the US exchanges also started with heavy losses in trade. The International Monetary Fund had previously warned against turbulence on the financial markets. In particular, the technology sector. 

Trading Signals

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Key Levels

POC * 11731
Value Area High 11874
Value Area Low 11619
VWAP 11794
R2 12136
S2 11384
Pivot 11760
Camarilla Breakout (Bull) 11873
Camarilla Breakout (Bear) 11460


POC * 7229
Value Area High 7245
Value Area Low 7151
VWAP 7179
R2 7295
S2 7006
Pivot 7151
Camarilla Breakout (Bull) 7188
Camarilla Breakout (Bear) 7029


POC * 26448
Value Area High 26517
Value Area Low 25973
VWAP 26105
R2 26902
S2 24727
Pivot 25815
Camarilla Breakout (Bull) 26096
Camarilla Breakout (Bear) 24899


POC * 3261
Value Area High 3293
Value Area Low 3242
VWAP 3279
R2 3355
S2 3188
Pivot 3272
Camarilla Breakout (Bull) 3296
Camarilla Breakout (Bear) 3204