Dislikedwell I can't predict what will happen, just be ready and predict/anticipate what the reaction is, being aware of the positioning.
We have Trichet, how Greece plays out, what the FED might say and possible big risk off in equities so we'll see...
I am still biased bullish though at this point... we were at the top of a daily channel and got a little over extended clearing stops above 4600 and barriers at 4650. Still at 4700.
Heard of Hedge Funds, ACB, and China on the bid... stops still above 4660/80/4700+ and gathering..
i took a short at 4650...Ignored
I like to play one day at a time (most of the times playing without news) but still I think if there is no bad news for Euro (highly unlikely) we might see a quick up thrust.
I haven't still gone to the dark side ie shorts but the effing LIFO principle doesn't really help. I had to close the longs before trying to short the market.