... for a .20 credit.
Comments: This is about as "it didn't work out" as it gets ... . Paid a 9.85 debit to get in; .20 debit to close; 9.65 ($965) loser.
With the yen at multi-year lows, looking to take a bullish assumption directional shot with plenty of time to work out in the Yen proxy, FXY.
The basic setup is to buy 2 x the 75 delta strikes and sell the 50's, resulting in a ~100 net delta long setup with a hypothetically infinite maximum profit.
Currently, the setup is pricing out at 9.90 with a 71.95 break...
Both top & bottom indicators (circled) near oversold area and moving up.
Pitchfork shows Yen in value area low zone.
Higher lows 3 times show stepUP pattern.
It appears that massive bets have been put in place that the $fxy will drop from here back into the consolidation wedge. A huge risk to market is that this doesn't happen. if Fxy breaks out, spy is in big trouble.
Looking for appreciation in the yen. Soon there could be a correction on the market. Nice technical setups. 200MA RSI oversold MACD showing lose of momentum. Good Luck
When trading in a small account, it is very important to be efficient with the capital used. That is why, even though is not the optimal trade we are forced to trade using defined risk strategies like Iron Condors.
This is the continuation of the portfolio started in our How to trade options series, where we start a portfolio from scratch. We started a $5,000...
$FXY Topped on late March, marching lower since then. Rejected twice at the sma50 (dynamic resistance). Today it closed red. More downside ahead? Closing price: $86.02
The USD has been challenging to trade in the recent global market environment
Long-Run equilibrium exchange rates may be changing due to Central Banking policies & inflation
Covered interest parity is being challenged with recent market events
Being long the Japenese Yen Trust (FXY) offers significant upside via a bull call spread
We have outlined trade which...
The USD has been challenging to trade in the recent global market environment
Long-Run equilibrium exchange rates may be changing due to Central Banking policies & inflation
Covered interest parity is being challenged with recent market events
Being long the Japenese Yen Trust (FXY) offers significant upside via a bull call spread
We have outlined trade which...
11/26/17 – November, outside month up, bullish month.
Timeframe continuity to the upside. Outside month,
week, and day up, we will see what new actionable
signals December brings. There is no argument that
the price is not moving up. A sustained December
move above 86.38 is bullish to the top of the triangle
with a target area of 89ish. Then we can...
The Yen is approaching horizontal resistance. And the RSI is close to oversold (above 70) territory, where it reversed in the past.
Looking at USDJPY for long opportunities.
