Snipers Wanted – Apply Within

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You really do need to be a sniper in this kind of market environment. Any kind of “automatic” or random” spray fire” will only result in a quick bayonet to the knee….then death by infection.

I’ve looked to change position / re evaluate my battle plan a good 1000 times over the past 24 hours, and have come to the conclusion that it’s alot more work than I am currently interested in taking on.  Thus – I will enter “sniper mode”.

I’m dropping down to smaller time frames here, picking up my sniper rifle – and leaving my long term fundamental battle plans tightly rolled up under my bunk. Im taking with me a limited amount of ammunition with the mind set that I will be using it sparingly. Precision is what’s needed here. Deep breathing, and steady of hand.

I will be picking off the enemy at will, all be it – opportunities may be few and far between. They are well hidden and equipped with guns of their own – all too ready to blow my head off…. should I falter.

In my sights I see commodity currencies –  and a generally bearish backdrop.

 

 

 

7 Responses to “Snipers Wanted – Apply Within”

  1. Sold gbp/chf stop above highs of a day

  2. Sir Robert Hoek

    Strong USD across the board?

  3. Perhaps you are tracking the silly dollar index $dxy – Im not sure. Is it strong?

    Keep in mind – as the worlds reserve currency, the USD will take considerable inflow on a pure ” search for safety”. This will persist a while longer, until you see equities as well as the USD ( as well as everything American) sell like hotcakes.

    You can trade it short term for sure……( as I plan to ) but big picture talk would have it that – bread in America is only going to get more expensive.

  4. Bloody hell, those brits are giving me a beating. Down, but not out. The only solace I have right now is that all these recent down days have been bought up the following day,

  5. Yep, I entered those JPY positions on Mon and watched them sink. I sold the buys and reentered as sells and almost became whole again. All in a few hours. Crazy.

  6. Kong, whats been supporting these currencies like AUDUSD while the commodity sector gets slaughtered?

  7. AUD/USD can easily range anywhere between 1.02 and around 1.550 – 1.06 area, while equities and or specific commods plummet or shoot to the moon. A direct correlation can’t really be made.

    AUD is closing in on the bottom end of that range now….and has indeed lost some ground as of late – but yes (wow) commods getting smoked. If / when we really see risk come off ( thus far we’ve really only fallen a tad – as SP is juuuuuuust hanging on to trend) you’ll see AUD take the hit.

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Previous Posts by Forexkong

Snipers Wanted – Apply Within

569 views

You really do need to be a sniper in this kind of market environment. Any kind of “automatic” or random” spray fire” will only result in a quick bayonet to the knee….then death by infection.

I’ve looked to change position / re evaluate my battle plan a good 1000 times over the past 24 hours, and have come to the conclusion that it’s alot more work than I am currently interested in taking on.  Thus – I will enter “sniper mode”.

I’m dropping down to smaller time frames here, picking up my sniper rifle – and leaving my long term fundamental battle plans tightly rolled up under my bunk. Im taking with me a limited amount of ammunition with the mind set that I will be using it sparingly. Precision is what’s needed here. Deep breathing, and steady of hand.

I will be picking off the enemy at will, all be it – opportunities may be few and far between. They are well hidden and equipped with guns of their own – all too ready to blow my head off…. should I falter.

In my sights I see commodity currencies –  and a generally bearish backdrop.

 

 

 

7 Responses to “Snipers Wanted – Apply Within”

  1. Sold gbp/chf stop above highs of a day

  2. Sir Robert Hoek

    Strong USD across the board?

  3. Perhaps you are tracking the silly dollar index $dxy – Im not sure. Is it strong?

    Keep in mind – as the worlds reserve currency, the USD will take considerable inflow on a pure ” search for safety”. This will persist a while longer, until you see equities as well as the USD ( as well as everything American) sell like hotcakes.

    You can trade it short term for sure……( as I plan to ) but big picture talk would have it that – bread in America is only going to get more expensive.

  4. Bloody hell, those brits are giving me a beating. Down, but not out. The only solace I have right now is that all these recent down days have been bought up the following day,

  5. Yep, I entered those JPY positions on Mon and watched them sink. I sold the buys and reentered as sells and almost became whole again. All in a few hours. Crazy.

  6. Kong, whats been supporting these currencies like AUDUSD while the commodity sector gets slaughtered?

  7. AUD/USD can easily range anywhere between 1.02 and around 1.550 – 1.06 area, while equities and or specific commods plummet or shoot to the moon. A direct correlation can’t really be made.

    AUD is closing in on the bottom end of that range now….and has indeed lost some ground as of late – but yes (wow) commods getting smoked. If / when we really see risk come off ( thus far we’ve really only fallen a tad – as SP is juuuuuuust hanging on to trend) you’ll see AUD take the hit.

Comments are closed.