There’s little more to be said here this morning – as The U.S Dollar plummets nearly a full 1%, down a full 100 points from 96.00.
Absolute Dollar devastation as both GBP as well EUR make 100 point gains, USD/JPY hit’s resistance and dumps….and our little gaggle of gold and silver miners now up 7-9% since entry.
I’m obviously short as “sh&%t”…and very well positioned ahead of the move. So what could you have done better perhaps?
- You “could” have plotted areas of support and resistance on your charts “long before this move was made”, and have been fully prepared with your orders
- You “could” have created 3 small orders and “legged in” over the previous 3-5 days, ensuring and average price and not betting the farm on a single entry.
- You “could” have shut of your T.V, eliminated the noise, and gotten back to your charting…where you would have clearly seen the set up coming.
- You “could” have opened your mind to the “other side of the trade” ( vs the general main stream media ) and taken advantage of some pretty early indications ( here at the blog ) that things where about to turn.
Forex_Kong_Ashamed
There it is…..likely the best possible entry / trade tip / suggestion that you’ve seen laid out for you over the last several days…no stress….no pressure. No chasing markets in panic…no text marathon’s with your broker…just proper planning and execution. A very well placed trade, looking to become a very VERY profitable trade.
So what are you gonna do now? Seriously………..what are you gonna do now?
hi kong..
so ya..what r we going to.do.now? still.in.time.to catch the short trade of the yr?
Lots of time……if it where me “again”…..I’d wait for the best little intra day “pop” USD gets ( as it will I’m sure ) to start staggering in.
A guy could just as easily get positioned here over the next few days….just be careful not to chase.
Hi Kong,
would now be a good time to take profit on my usdjpy shorts? Entered into the trade at roughly the same time as you. My spidey sense is telling me that it will drop below 100 but am so tempted to take my profits and wait for another re-entry.
this was the kind of setup i’ve been waiting months for… and your recent posts gave me the confidence to leverage up even more.
i owe you a big thank you and a drink if you’re ever in singapore!!!
Hold on to your USD shorts longer K.
You can squeeze several more days before taking profits…..USD/JPY should break parity at least so……likely more pips to come!