The overnight action is a little disappointing for a short, although it is not particularly strong either. Reversed off R1 for now. Perhaps the market is waiting for the economic # at 8:30.
You don`t think opening above yesterday`s high opens the the door for a t-day gap fill at 1214,25, thus leaving your stop a little vulnerable in the middle of the gap?
I sold the intraday high yesterday and have been holding it overnight, but the gap above and the lack of follow through to the downside this far is leaving me a little nervous.
As long as we stay below 1200 I think it`s all good, but I`m not sure if I would want to use a stop much beyond that unless I took it outside the gap.
