EURJPY clearly bottomed after approaching weekly support. I think this pair will offer a good proxy for a volatility short, if that's your thing. Maybe we have a major bottom in this, a top in VIX, gold, and a strong rally off the pullback lows in SPY.
Best of luck,
Ivan Labrie.
P.S.: don't forget to thank Haruhiko Kuroda if this works...
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Thanks Kuroda...you're the man (?)
The trade is progressing well.
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You can add on dips after today's close...or just trade both USDJPY and EURUSD long in your FX portfolio.
@IvanLabrie, thx, was contemplating a short on USDJPY, but after seeing your track record I think ill give it a miss ;)
IvanLabrie
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@Virtualme, oh you can always long gold instead... But yes, my win rate isn't the best soy currencies now, in this environment. I'm mostly a trend trader.
Good luck and thanks for the kind words.
Virtualme
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@IvanLabrie, Thanx yea im a bit late but long on gold, just thought USDJPY looked a bit shaky here.
ambrosia
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Nice call!! What are your targets?
IvanLabrie
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@ambrosia, no target in particular...but we could easily retest the 120-122 zone.
ambrosia
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@IvanLabrie, Yeah I was thinking at least 119.5. Thanks!
IvanLabrie
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@ambrosia, when not sure, aim for 5 times the daily ATR (11 periods)