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O'Hare: I'm shorting the Dax and here's why

Steve O'Hare talks us through his trade in the Dax as equities continue to be dominated by uncertainty surrounding the slow-down in the Chinese economy and the possible timing of a US rate hike.


"We are set for another volatile week with NFP rounding things off on Friday. The Dax ended August with a net loss of over 1000 points equating to nearly 10% and compounds our negative medium term outlook." says Steve. 
 
Despite a positive turnaround last week, Fridays ‘hanging man’ candle is a concern and yesterday’s positive day featured a lower high and low which is negative and has contained the relief rally.

Steve is looking at setting shorts on a pull-back into yesterday’s range, at 10200 

Target: Around the short-term congestion support area near 10000.   

Stop: 10250.

https://www.tradingfloor.com/about/niird

01:12 minutes
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