Think the implications of that might be quite serious when countries start to ask why they need to pay for oil in the currency of a country that doesn’t buy any oil
Definitely not brave mate. Because I’m chicken too is why I don’t do traditional straddle, I just never have the trust that if it breaks whatever structure high/low being observed that it will continue.
Just made my 2% by trading in the direction suggested by the rate hike
( or … I missed the announcement because I was elsewhere … )
Launched my platform … nipped out of the room, and then plonked my bum down at T + 20s
So I waited for the retrace and then went in the direction of travel.
4 trades, one martingaled on UJ (hey! I won with it)
There was more to be made on EurUsd but that can move a bit savagely so I was happy with my 10 pips there.
Switched off, heading for a beer.
I drew a blank. Waiting at 1.13793 it pulled up short. I see it hit on the second visit but the moment was gone for me. I favoured a higher short around 1.1516 and clearly that didn’t happen either.
Have a limit at @ 1.1516 EU risk @ 1.1523 tp +10
scratch that having quick stab 1.14128
Edit Risk is at 1406
2nd edit sl hit
And those same levels still active as ever. I chose the wrong one out of the two today and maybe should have split my risk in hindsight. The rear view mirror is always a lot easier to see things.
I think I will change the name of 1.14128 and 1.14016 and refer to them on my chart as the Brexit levels and never to be forgotten, well for as long as the EU is traded at least, which with a bit of luck might fall apart next yeart !
Something has definitely up set the US$…
I read this article few weeks back. Not really sure how it translates to the chart, I mean it’s all in there somewhere. I have gaps in EU up to 1.17 ish then 1.22 and even 1.34 ish. Downside to 1.07/08 initially. I think the bastard move is taking it higher first. That is trying to apply hourly chart logic to the weekly. Luckily I don’t have to position to think about it too much but do try to land on an hourly sweet spot and hope for a jet fuel boost on occasions.
I have read John Mauldin before. The master of a long-winded writing style.
However with US debt at more than total GDP and getting worse, we must remind ourselves that there is nobody to step in and do for the US what others might have done for eg. Greece.
Government shut down. Not near as big a deal as investors think. Border wall just funded by the house.
Ok, who is the main cause of the shutdown this time?
The FED works tirelessly to balance the hype against the reality
Meanwhile the ECB is pinning all its hopes on Bitcoin, here you can see the scale of the mining operation
They are both instrumental in the architecture of the reality.
Think I moved stop too early on this S&P punt. Bit of profit but was hoping to see 2525.
Prob won’t get involved in anything further now.Have a UJ long running which is risk free but will trail now 'til end of day then close or whatever happens sooner.