MrRenev

Dayum nothing is stopping this rocket ship

Long
FX:CADJPY   Canadian Dollar / Japanese Yen
I think the yen is sinking because perhaps investors are buying us stocks with it after the PB , as well as oil & gas, maybe even some investors are selling yen for "safe currencies" (kappa), maybe Bitcoin even. Eh who knows, us stocks moving leads to yen moving. It has been going in a straight line.


I waited so long for this moment. I think I'm tearing up. HERE WE GO!!!! 🚀🚀🚀🚀🚀



Let's have a quick laugh.

On a social investing FX site:
- 92% of gamblers are short on GBPJPY (I was long, got stopped long ago before the big rally)
- 91% of gamblers are short on USDJPY (I don't touch this pair, don't understand it)
- 93% of gamblers are short on EURJPY (I am long as I don't drink motor oil )
- 94% of gamblers are short on AUDJPY (cracks me up)
- 96%! of gamblers are short on CADJPY (my other long and biggest winner since august)
- 95% of gamblers are short on CHFJPY

IG client sentiment shows ~75% of clients being long on the Yen. 75% of IG clients lose money.
Similar numbers for FXCM clients, or as I like to call them, "the sewers people".

===> It will HURT. Brace yourselves for wave of blow ups. Possible new regulations ( zzz ). And wave of "I am living proof day trading and countertrend works I have been profitable for 2 years" going silent.



The straight line doesn't even need to continue much to make money. It's so asymmetrical you'd have to be crazy to not find some Yen short.
And of course you'd have to have had your brain go under a compact roller truck to go long yen short term. It's really just stupid no excuse no other explanation.



The horror is over?




If the "conditions change" will I be able to continue being profitable?
Pretty sure I'll be more. This was hard mode for everybody. If price trends and volatility (as in ATR and ADX goes up it will be easier.
Whoever sells RSI at 70, 80, 90 will be sad. I can already imagine them waiting 3 years "it got to reverse eventually" while it stays above 85 the whole time.

Worth a shot clearly


96% of (baaaaad) retail investors are short CADJPY , things rarely get that extreme. More fuel?

And even the COT positions on the yen are so heavy. Never seen this before, the positions themselves are making a "heavy" pattern, unable to recover, just inclined down like there is a big weight on them. And best of all is they are not even close to being extreme yet, just halfway to recent lows: lots of room to grow!


Order cancelled: Going to look for other pairs.
For CADJPY the price made a barely higher high...


I can think of something:


Well I don't really know what to do in this case for my part ==> I just avoid it.
Yes as always retail traders KNOW FOR A FACT exactly what to do "It WILL reverse it is TOO HIGH" (lol), dunning kruger... They just make some affirmation "this must happen" with confidence, when their troll coinflip call doesn't happen they don't say a word, when their troll coinflip call happens they go "told you so". 90% lose money, and 99% do not make significant returns, sufficient to make a career out of this.
I don't know, therefore I do nothing.

If the price drops I'll check myfxbook to laugh, on average these 96% short trolls are 300 pips offside. 100% they close their gambles if the price drops 50-100 pips.

Not sure if that previous low can be used as a trailing stop, until the price goes higher.













Lmao! Gets me every time.