Got out of that pre-market short with a 2 tick gain and was damn lucky to get it.
As I hope you noticed in the Tweet section, right after I entered the trade, I noticed the volume cluster around the 1295 area and figured it would gun for that and take a lot of shorts with it. It certainly did. I was determined not to be one of them.
Currently I'm watching the 1305 area for a possible reaction. But I'm aware that it's clear air up to the 1315 area which coincides with the August '08 weekly highs of 1313.
I must admit, I'm getting concerned about the dollar here. Unless it strongly reverses soon, I will be forced to consider that it's been tracing out a huge bearish triangle since the '08 lows.
I hope I'm very wrong.
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