FxWirePro Call Review: Charged up bulls trigger stop loss in our short call in DAX; expect sellers to emerge around 13300 area

In February this year, after several of our bullish targets achieved over the past year or so, in an article named, “FxWirePro Call Review: DAX outlook revised from bullish to bearish”, available at https://www.econotimes.com/FxWirePro-Call-Review-DAX-outlook-revised-from-bullish-to-bearish-1147363 we changed our bullish outlook for DAX/GER30 to bearish over the longer horizon.

Based on our calculations at the time, we suggested that the sharp selloff that shook investors’ nerves is not over and we at FxWirePro wrote, “We would also like to urge our readers to go short on DAX or GER30 at the current rate of 12230 (GER30) with a stop loss at the recent peak of 13600 and an initial target of 11000, which is likely to get extended.”

And, in a follow-up review, https://www.econotimes.com/FxWirePro-Call-Review-DAX-short-side-target-extended-to-10200-stop-loss-revised-1225527 we extended the target to 10200 and revised the stop loss from original 13600 to 12800.

However, charged up bulls have triggered the 12800 stop loss rising on abating risk aversion stemming from trade dispute between the United States and China. We currently have no open call in DAX and would urge our readers to wait for an opportune moment to reenter. We expect sellers to emerge around 13300 area based on our calculations.