The short-side proved to be a good trade from yesterday. I’m now switching into a long position .

Approaching some support here as i write.. Trendline and the fib combo (yellow arrow) are the next targets on this fall.

Closed my short position and swapped to a long at 112.69. There is a fair size option expiry at 113.50 today (10:am NY) $3.5bn with another at 133.00 – $1.8bn.-  Smaller amounts at lower levels .

Tight stops on this trade below 112.60…..So the risk/reward is good if we get a bounce and price moves to attack that large option strike during the next sessions .



Horatio Dubsly

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