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
|Value Area High *||13076|
|Value Area Low *||12934|
|14 Day ATR||169.07|
|*These are FXCM numbers, not futures numbers. Please be aware that FXCM can often be 5-10 points higher than futures prices|