Watch the battle between bulls and bears on IWM over the last 10minutes. Around 2PM today. Similar battle going on on EUR/JPY. I am scalping like crazy.
eur/jpy is like the bank. If it goes up, bulls are shoping in equities. When banking is done, EUR/JPY should head down. Just shorted it at 159.10. Covered shorted IWM for 0.25 gain. Bulls seem to be hinding, and ready for the battle. Risky to guess who is going to win.
I am ready to reload on short side of eur/jpy at around 159.10. Market is risky. Very volatile, battle is raging. I will side with bears if bears win.
Everything is possible. But I will only open position after bulls are defeated. Bears are sitting in area of 159.15. I will wait for a possible defeat of bulls, then short. If not I will stay on the sideline.