There she goes...

I didn't think the euro would drop today, but this morning I seriously considered opening a new short position because for the first time in weeks, I was convinved that the larger downward trend would soon resume. I just thought I had some time. Italian politics (Berlusconi out), French politics (austerity plan), italian bond yields, trader sentiment (Tim Knight was losing some confidence again), plus technical signals all were converging as coincident signals.
One thing I always remember is that there are always new opportunities to make money. Preservation of capital is more important than missing a move. And something tells me, there are a lot more downward moves in the euro to come.

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