If you’ve ever taken the time to watch those professional dart players on T.V hit bulls eye after bulls eye, I’m sure you’ll agree it’s a thing of beauty. Like anything we silly humans put our minds to, with enough time and effort – eventually we get good at it.
Forex being no different, one would almost have to have the “razor sharp skills of a professional” to be nailing bulls eyes these past few days, as the fundamental backdrop continues to confuse and confound.
Individual currencies have completely decoupled from a simple evaluation of “risk on or risk off” almost as if each is truly “out there on it’s own”. Hitting the bulls eye has proven to be very challenging.
This is the sport. This is why I love it.
I’ve booked small gains in trades short USD/CAD and plan to re enter, as well have several small irons in the fire long JPY that are sitting (barely) in profit. I’m still of the mindset that USD is rolling over here (all be it slowly) and also feel JPY is close to finding it’s legs for a bounce.
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I dont think avoiding a triple dip recession warrants this 2 day move in sterling, I like GBP/USD to leak lower from here……if a fat fuck walks into Baskin Robbins and holds off from getting three scoops, does that mean he should be rewarded?
Hi Kong, if you are thinking $ gonna roll over, it means you think the market will keep going up? Sorry, very basic q. Thanks.
No. In this instance – I feel that USD as well as US equities will both move lower together.
I see very little upside left in stocks.
I dunno bud – fundamentals don’t always line up “on time” with the technicals…..
I see that GBP has pretty much found a near term bottom, and absolutely love your analegy. I’m picturing a fat British fellow I know at this very moment.
Thanks Kong. Looking forward to reading your next view !
sterling only down about 10 ticks from my bearish call @ 1.5495, although I think we can make one move lower here to 1.5470/75 area…..
Wow….I don’t consider moves of 25 – 50 pips (or even 100 for that matter) as any kind of “calls”…..anything that tiny is just noise to me.
That’s the great thing about trading – depending on your time frames…everyone can be right!
you must be dealing in small notionals, time frames are 1 day
Ya I could see the argument for the pound to have bottomed. An asset would usually bottom and rise while the news or data still sucks as the market prices in the effect of future intervention
its a bit hard to get your head around a falling dollar w a potential market top but there is no rule that says the dollar must rise when stocks go down. GBP could bottom yen could bottom aud nzd and cad all could still have legs so a falling dollar could be the tradeable trend