After the mega squeeze on Friday evening in the US, Dax this am has broken above levels that were being watched actively by market participants, and now it either takes off or comes crashing down to earth.
I'm short biased, but i need to be agnostic really, and do what the numbers tell me is correct at this juncture. I will still take all signals that come along, but as a core position I'm adding some Sep OTM puts at these levels, because the chart above shows this am's action, and a sell signal came up at 9 & 10am at approx. 5103.
Thus adding to core short position, may trade around it with futures if any buy signals come in over the next couple of days. It will be interesting to see what if any follow through we get after the break higher, both in Europe and US side.
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