It’s a BOC special
Welcome to BOC day! It’s the biggest item on the calendar today and could be a very volatile one. We’ll have some analysis for you later but in the meantime, let us know how you’re going to play it.
Updates:
On my USDJPY long entered at 108.55 yesterday, took half off at 65 and another chunk at 95. Stop on the balance is up to 56. I’m going to hold on for a 109 break but if that doesn’t come I’ll move my stop up. I still like a short-term long in the 108’s but I’ll look to the bottom end as a persistent failure at 109 might bring a steeper move south. 108.50 wasn’t as strong as I thought it might be so I’m less inclined to trust it again.
For today, I’m getting increasingly concerned about EURUSD looking well supported and that suggests a break of 1.15 is coming. I might dial down my expectations for shorting there. One way to play it would be to lower my trade size on any short vs the size of a stop reverse into a long. Levels are there until they’re broken but we can’t ignore the PA and what it might be saying.
Over to you guys and girls.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
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