I already have some positions placed south of it, just in case. Forex has a system. If you think it’s going to reverse at this level, you’re probably wrong. But it can’t drop forever, especially without some strong fundamental to back it up. If the market always did that, then no retail trader would trade it. Because everyone would know it’s a scam and a half at that point, and the banks would make zero bucks off of it.
I’m just pissed I cancelled my strong long at 0.6570 to 0.6870. That would’ve been a solid 6-7% profit.
I hold an amount of these. Trading has been suspended pending release of the accounts … which were put back, and then put back…
I bought a few more, although having spent a couple of hours yesterday reading the report I can’t decide whether to go in heavy, or not. So it is ‘not’ for the time being.
IMHO … no change is good for the US$ because everybody is expecting a rate reduction … it appears.
edit: (due to nobody posting after my 3 posts)
Well … sticking to my own advice I bet for strong dollar every time the price jerked against the US$. 5 winning trades (one was sooo tiny, price was jumping a bit !! ) and I have now stopped to wait for Jerome to upset things again. 0.7% ahead … US$ still slightly weaker than before the announcement … might just watch for a bit.
another edit:
Holy crap! …can somebody please replace Donald Duck on the sound desk… https://youtu.be/CrzHfhZncC0
yet another edit:
Well … the US$ is not holding up so well after all …
Limit trades are like hiring escorts from (the now defunct) backpage. Sometimes you get lucky and she gives you a good fuck, other times it’s a sting operation and you’re fucked the wrong way.
I should also add, I was long on the usdchf. Just blew out 20%. FUCK. Hopefully now these pedantic fucksticks will stop ruining the lives of poor people. But, then again, if they didn’t ruin the lives of the poor, they wouldn’t have any money in the bank.
