China continues to pressure global equities and risk sentiment. Circuit breakers were triggered overnight again, and European bourses are poised for a large negative open. So shorting Dax, along with GbpJpy/CadJpy/GbpUsd has been and still is my preferred trade all week. How much further can they push? We’ve experienced a volatility expansion right from the start of 2016 which has surprized many, so I’m reducing my position size in order to continue pressing these trends in place.
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