I trust you all had a super Christmas. My belt has been loosened a notch and I really must get some trading exercise in .

USDJPY has an option rolling off at 113.00 later today. I’m holding short from last week and setting that as my ‘take profit’ .

Tomorrow, 28 December sees a duel between 113.00 – USD 1.8bn with a higher slightly larger option situated at 113.50 – USD 3.4bn .

My thinking here is that we could see a bounce into tomorrow after the cut off period ( 10:am NY time). In my experience large option contracts seem to work even better in low liquidity environments as it takes less muscle to get them to the desired strike price for the parties involved .

To recap — Looking short today with a possibility of longs into tomorrow.

 

USDJPY-H1

Horatio Dubsly

Collects more scalps than Crazy Horse and newly crowned Bitcoin & Dow top calling master.
Philosophy: "Trading rules.....it most certainly does"

Read how Horatio got into trading here
Horatio Dubsly

Pin It on Pinterest