beware of high volatility during high profile announcements

call me crazy, but I belive there may be a decent short sqeeze on the ECB annoucement, the annoucement may not be as big as everyone thinks, retrace to 38% fib level, and then continue to 1.11900, if not.. then great, im still short and overall I'm expecting to take some hits but my risk is managed, looking to short more at a better rate around 1.17-1.19, next range target 1.11900