This is not your typical exasperated question from a confused trader. For once this simple phrase has a real meaning. On Friday US treasury announced a bail out of distressed financial institutions, by “removing toxic mortgage loans off their books”. This bombastic statement was very short on details. Over the weekend Paulson, Bernanke and Busch have been trying to push it through congress, and so far it is not a sure sell. As of this writing, the estimated cost of this action is 700-1000 Billion. Nobody is even sure what positive results, if any, this intervention might cause. If this “package” (better name is Trojan horse) is approved, it will guarantee only one thing – US public debt will be raised from ridiculous levels into the realm of absurd.
The final details of this so called “rescue plan”, will not be known till at least Monday, maybe Tuesday. One should expect a lot of indecision in early trading on Sunday. While it is very likely that the moves are going to be large, overflow from Friday, trends can change with any news or rumours.
Personally I will not be trying to guess how markets are going to react to news, so there will not be much trading for me on the time frames that are suitable for posting here.I’m placing one order for now.

This is a very tentative buy of EUR-USD at 1.4550, looking for 200-250 pips gain. Notice this is 4H chart used, this trade might take some time. By the time Europe opens tonight, initial jitters might out and new set ups might emerge.
I will be watching early trading with interest. If it is really wild, I’ll likely take some trades on small time frames like 1M, 5M charts, but small size. One must be prudent here.

Mike K.