This is a technical trade, and a play on growing risk appetite. Trading downside breakout from recent range. Lines show approx. entry and stop levels. As you can see, the market has run up to the stop and I fear I am going to be stopped out. This may be partly because of the German IFO Business Climate number, which was down a little on the previous number and a lower than forecast. It is still not a bad number, and I thought the market would not be too concerned — I may yet be right, but I seem wrong so far.

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