Another good night for the good guys!
All of my trades worked out nicely and this business can really deliver highs and lows, but hopefully not too much of the latter!
Like I’ve been saying for the last few days, this is the beginning of a downmove in the JPY crosses so we can expect AUD/USD to still be heavy on rallies and if you’re bullish on EUR/USD, you will still probably get some decent dips when EUR/JPY selling intensifies. The amounts going through the market were very large indeed and as we know with these big trends, the door is wide going in but can be very narrow when exiting.
It’s Friday, and it’s NFP day, so be extra careful out there.
Morning Sean, good call on all the moves! Does this action feel like some capitulation by dollar bulls? USDCHF has fallen >500 pips from the highs. Is it time to reinstate longs?
And BTW, your .92 USDCHF target was reached in no time! How prescient was that!
Look what you have done, Sean! Just a few hours after your EUR/JPY comment those poor funds really got squeezed. 😉
Didn’t expect it that quickly Jasper, but once the market gets its positioning slightly off then anything can happen
A mate at big prime broker said to watch out, and if he mentions it then it must be big
You’re analysis and information has been excellent in recent days Sean. I had a small long at 99.10 UJ, seeing that support at 98.80., Stopped out at 99.70 when support broke and quickly reversed with a Nikkei short on a 50 point trailing stop, Best trade to date in part thanks to your overview.
Thanks Tony. It’s funny how sometimes it seems so easy and clear to read the market and other times it’s clear as mud 🙂 Thankfully my eyesight has been good this year 🙂
Hey Sean, congrats on the green pips and terrific analysis lately. You’re a gem!
I got to work an hour late today thanks to last night’s developments, can’t say I regretted that! HAhaha…being able to get out of that bad AUDUSD was a godsend after watching it go down to -160 over the past 2 days. Very lucky…
Well done Chngster, some times we need to be brave in this business
bravo~
can’t say more
Gidday Sean, and well done for the nice top picking in the yen crosses!
I got a bit of a nasty surprise when I woke up today, but took some medicine and am now a devout JPY bull myself. At least for a few days 🙂
These charts look a lot like the good old meltdown charts of the financial crisis.
yep, typical clean-out, mkt never really changes- up stairs down elevator
Mike i know what you mean! My idea on the AUD trade was a few days ago was fundamentally contrarian – so it was already a low probability play to begin with. Then, I got the timing wrong; I got the sentiment wrong; I got the levels wrong. And I definately got my risk exposure wrong. Luck, not skill got me out of the trade — not proud of this one. So many lessons to learn from this episode… =/