Its been a long week. And aside from the smashdown in gold – a very boring and frustrating week.
I could post a couple of charts, show you some levels and again point out that “the topping process” is often a long and arduous affair but frankly – what’s the point? Here we are. Here we “still” are. And “here we may be” for several more weeks, as the struggles between bulls and bears play out at the highs. Short term squiggles are pretty irrelevant, as currency markets continue grinding away at traders accounts ( more so my patience) with nearly everything (short of JPY) trading virtually flat for the week.
For the most part I couldn’t place a trade worth more than a couple of tacos if my life depended on it….and it does depend on it!
I wish I had more to share with you. Some amazing trade strategy, or some “top-secret insight” into a potential market move – materializing over the weekend. I wish I had for you the “investment tip of the century” – something to make you rich, something that would change your life forever.
Sadly no – I don’t.
I’ll keep digging here over the weekend, and hopefully plan to “wow you” in coming days. For now I hope you have a wonderful weekend, and we’ll see back here Monday.
Made some decent pips on aud/usd short and gbp/usd short. GBP looks like retraced to 1.54 and headed down. What do you think?
Ya GBP ( or anything right here right now ) is pretty tough to decide on as – I’m still hanging on the USD to get confirmation of it’s direction moving forward. As well…..a real re assesment of weather or not USD will still take “safe haven” flows when risk comes off.
Here’s a mind bender for you – I’m seriously considering USD and US equities falling together. So in that case – let me ask you, what to do with EUR or GBP vs USD? Not the same ol same ol that’s for sure.
With this in mind…..I’m at a cross roads – and will look to see how it goes in real time as the USD makes a move.
Maybe pick GBP short vs say SGD or something like that to be safe from usd swings?
Again – just not the best environment for any kind of bold decison making. I know it sucks, and I wish it wasn’t so – but I’m still more or less on the fence. These moves at “the top” more often than not – do there best to fool everyone. One day you think it’s pullback…the next you think we are going over a cliff…then back…and fourth etc – I hate getting caught up in it all.
I currently have opposing fundies and technicals – as I feel risk should come off – but also see the USD rolling over. This is odd to say the least, and requires some respect. Im gonna sit tight.