- Short EUR+GBP have come a long way awfully quickly. Thus, reduced exposures tonight even though I think there is much more downside to go, especially for GBP.
- Switched small part of what was freed up above into a fresh short S&P500.
- Monthly : Early days yet for bears. Jan10's bearish engulfing is just a start.
- Weekly : This week's price action could turn out to be the first in a series of lower highs that bears need to see. If correct, then next key event is lower low <1045. Stop loss >1112.
- Daily : This looks bearish.
Addendum 6:30 am 26Feb10 : This is how the daily ended up looking - completely different from the 1:00 am picture. Sigh. Why do I keep trying this completely useless trade. Now contemplating cutting loss on this (8 points = USD 400 per contract) and use the limits to re-establish GBP shorts instead. I suspect will get a lot more joy doing that.
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