Cover Your Shorts, Exit Strategy and Reversal of Trade

FX:EURUSD   Euro / U.S. Dollar
If you have been short EUR/USD             or buying FXE             puts, for this last move its time to scale out and take profits. Tomorrow morning we will have a volatile whip lash as the ECB is likely going to announce QE . There have already been reports of leaking news concerning the size and scope of the QE . Bloomberg has even mentioned a delayed start date, March 1st.

From the charts I'm reading I'm expecting a quick plunge as low as 1.12 with a rally that could go as high as 1.20. This is the relief rally many traders have been begging for. So take the bold action and go long. However, don't hold on thinking this is the start of a new long term bullish uptrend, we will eventually see parity and finally .80 EUR/USD             handle.
great! thanks for sharing
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Broke the fib support temporarily. However, recovering well. Fact that we broke a support level many traders were watching, tells me downtrend is not over and if anything this will be a dead cat bounce at best.
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We've got some stability after one of the fastest daily sell offs in the Euro's history.
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Magus QuantitativeExhaustion
Are you still expecting rally up to 1.20? Today seems pretty bad for EUR :)
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yes, massacre
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Magus Recluse82
Still downstream ...
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Coming back.
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I'm watching closely here. Euro bounced big so far. I did enter a trade long FXE Calls (ETF EUR/USD)
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