60 minute chart of FXI shows a clear line in the sand for profit taking on the short position (FXP).I don't mind admitting that I am better at managing downside panic than upside blow offs. Bottom feeder and all...
Edit (4:10) At 41.84 on the FXI the position almost stopped out. But by a thread it remains intact. Now let's see if overnight blows the position out. As I always say about shorting, I remain in a state of 'no undue hopes for success'. It is better that way, and while the bulls' sentiment is getting unhealthy and the dollar's sentiment is downright bullish (3% bulls), the process of sorting things out can be a grind at best and painful at worst.
