Im not generally crazy about trading against the trend, but I think $USDJPY declines are overcooked. Sentiment seems to be at an extreme.
I think that a $USDJPY long may be one of better trades of the coming weeks: http://bit.ly/9W9HGM Jamie agrees: http://youtu.be/BjaPgtqidYs
Ive moved max risk on my $GBPUSD short position down above the 1.5490 mark, looking for a break of current congestion support.
Surprisingly large $GBPUSD moves despite holiday trade. SSI now reads 1.3 traders long per 1 short, modestly bearish contrarian bias.
Heads up on rollover charges: 4x rolls charged/paid today due to holiday weekend. Position traders on $AUDUSD and others should take note $$
ISM Manufacturing just surprised notably beyond forecast, $SPX rallying hard while $EURUSD moves marginally higher. Risk on mode. $$
Stopped out of my $EURUSD short. Next resistance at 1.29, and Im not done yet. Wait and see time.
$GBPUSD SSI ratio continues to climb as pair hits fresh lows, longs build. Remains contrarian sell. Breakout2 system short from 1.5395.
US Personal Income and Spending as well as PCE Deflator data roughly in line with forecasts. Not seeing much reaction from $SPX, $EURUSD. $$
$EURUSD SSI has once again flipped to net-long as the crowd buys into dips. Lets see if it sticks this time.
My $EURUSD short is once again at risk as USD falling across the board. Stop above 1.2780, and were close. Little to do but wait.
Well, my calls on $EURUSD with SSI this morning are thus far dead wrong. Choppy market conditions destroy SSI accuracy.
My stop on my $EURUSD short position is at legitimate risk right now. SSI ratio points to short-term gains. Not looking very good. $$
As promised, newest Weekly Options Forecast: http://bit.ly/bIMs8n Main takeaway is focus on continued $EURUSD and $GBPUSD declines. $$