The new trading week is here. What are your thoughts for today?
A key week starts and then we all get a break for the holiday’s. Despite it looking very quiet today, I’m sure things are going to perk up at some point.
GWTF is the place to air your views of the day/week ahead so let us know in the comments what’s you’ve got your beady eye on. We’re also here to help with any questions you have about trading in general.
For me, I’ve still got a hankering to be long some USD into the FOMC but I’m not really seeing any levels of value so I’ll have to see if anything drops into my lap. In an ideal world, I’d like to pick up USDJPY sub-113, and /or sell EURUSD above 1.14. Wishful thinking perhaps right now but we always wait in anticipation.
Lastly, thanks to all the folks who turned up for the Christmas drink up last Friday. It was good to share a beer or 5 with some old and new friends.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
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Good Morning Ryan enjoyed our Christmas drink now back to work – for a few days at least – long the Kiwi CAD this morning
Morning John. Thanks for stopping by, was good to catch up. Good luck this week sir.
Morning Ryan always good to catch up
turned my long Kiwi Cad into a short
moved my stop loss to zero
stopped out for zero
Good morning all,
-1/2 short EURJPY. 128.65/70 first hurdle for reassessment/adding (?) .
-1/2 short cable, stop on that bit to 1.2625. Rather a “headline” stop to guarantee profit on the original( 1.2658)after having banked half at 1.2587.
-Tiny short EURNOK.
Position adjustments ahead of FOMC could lead to a USD yoyo. My base case will be for a hike with a cautious approach for 2019. There are huge expectations again. It’s over, everything’s going down the drain, we’re close to recession. I will be open to anything, trading what I see, but not sure that we get much more than a big algo wave, dragging in weaker short term players and then settle down and do year end flows. The market has already corrected equities, yields. FX has been relatively stable inside wobbly ranges in the process. It’s going to take a clear message from the Fed to break 1.12-1.15 imo. If I’m right in this assumption, the USD will still be a high yielder in majors’ land, find dip buyers.
In the meantime Brexit is still a mess UK side. I’m small short cable but won’t put my book in danger with blind GBP shorts. A lot is in the price. It’s going to to need a clear break of 1.25 to signal more downside.
We’re the last part of December. Liquidity will gradually dry up, natural flows’ impact will grow. Adapting sizes and taking wider price levels is advisable. But opportunities may also rise if option expiries or fixings take FX to levels where it it feels out of the reasonable.
Safe travels and happy hunting
Hi Ryan from now on until after holidays if we follow the pattern will be gently movement of whatever general direction we start the day at mostly as things quieten down. I would have liked to come and meet you for the Xmas booze up but I am basically down to just mineral water only now, i said to the doc if I cut everything out will I live longer he said probably not but it will certainly feel like it 🙂 , stay lucky 😉 atvb Chris
Hi Chris
They serve mineral water in pubs nowadays too you know 😉