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Video / 27 July 2017 at 7:10 GMT

Why I’m selling the Dax: O'Hare

Steve O'Hare - First 4 Trading
Steve O’Hare, of First4Trading.net, explains in a technical analysis of charts why he is trading the Dax (GER30.i).

He plans to set shorts at current levels up to 12,312. His stop is a break about 12,380, a tight stop. His targets are 12,138 & 12,031.

O'Hare’s technical analysis of a selected trade features every Thursday on Trading Floor.

1y
djustoe djustoe
Hi Steve, Any thoughts on selling the NAS100 as it approaches the 6000 mark?
1y
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Good morning. Global indices are pretty detached currently and although 6000 is a nice psychological number there is no obvious reason to sell currently. I personally would watch the price action closely. Approaching overbought levels on the daily with some bearish divergence but i would need to see some confirmation in the shape of a reversal candle/formation. Good luck!
1y
djustoe djustoe
really appreciate your analysis, thanks!
1y
Morris Morris
Looking at the chart provided there is already toppish signs!
1y
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Definitely one to watch.
1y
Morris Morris
The RSI is much welcomed mate! Early signs but may not be thee! The music will still play for sometime to come!
1y
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Signs of a turnaround on Nasdaq 1 hour chart! For all the impatient bears out there!!
1y
djustoe djustoe
'impatient bears'. Thats me all over.
Looks like its recovering on the hourly... No stopping the Nas it seems.
1y
Morris Morris
Steve them Indicators I have being crying about! Look at the histogram also bearish! Early signs still but not thee! Next will be to watch the 4hour and day chart for confirmation. Thanks
1y
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Agreed, i'm enjoying the selloff much more in the DAX!!
1y
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Nasdaq could end up posting a bearish outside day!
1y
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Dax now traded 12145 (just in front of 1st target) so would look to book partial profits and lower stop to 12300 on any remaining shorts

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