Month: July 2015

That Worked – Trade Forex With Precision

Forex Kong 1 Comment

Again….if you can find a way to pull yourself from the T.V long enough – you’ll see it eventually.

You’ve got to formulate your own ideas, else fall in line behind the sheep and pigs in front of you.

Greece. Not even close to being resolved.

China. Total economic stall/retraction.

U.S.A. Already in recession.

The Global Economy….already on its heels.

The bottom in oil, silver and gold will come SLOWLY…….. then rip your face off.

You continue to ease in…..you remain patient and look to add once we see USD topple.

Today is just another day….another win in along string of “many”.

Holding…all trades entered “short risk” YA……yesterday a.m

So It Goes – Leave It To The Pigs

Forex Kong Got something to say?

No surprise to any of you……I’ll be taking the next trade “short risk” here through this morning.

With such wild peaks and valleys, it’s really anyone’s game so as per usual…small calculated moves capturing what we can…….leaving the rest to the pigs.

Pigs will eat anything you know….these days “headlines” being top of the menu.

It’s painfully boring to watch…distribution that is. Stocks being “distributed” to the unknowing drift of pigs…..hungry for even the tiniest bit of wealth.

They will just keep eating and eating, and they “will” eat anything.

Take a point er two here pigs……could be your last little nibble for a while.

 

 

 

 

 

Look At Yourself – Do You Really Have A Clue?

Forex Kong 6 Comments

Strip away the television.

Scrap the Internet.

Cut the phone lines and burn the newspapers.

Then go take a look in the mirror……Go! – Do it! Go look yourself right in those “baby blues”……….and ask yourself.

Do I really have a f%(@king clue as to what the hell I’m doing?

Do I “really” know a single “f*$@Qking thing” of my own? – short of what “I’m told”?

Answer: Not.

Solution………………………………………………………………………………………………………………..Become a writer.

“Know Thyself”.

 

 

Nikkei Down -638 Points – Long JPY Trade Is Gold

Forex Kong 4 Comments

The Japanese Stock Market ( The Nikkei ) is now down -638 points as Americans start “waking up”. China has cratered.

How are the long JPY trades going? – Absolutely golden!

The relationship between “risk appetite” and The Japanese Yen ( JPY ) has never been more clear, as short trades in AUD/JPY, NZD/JPY, CAD/JPY and USD/JPY have produced some 5-600 pips in only a few short days.

USD trades remain flat, as the continued concerns about Greece keep EUR ( the polar opposite of USD ) in a continued state of flux/confusion.

This is not about Greece. It’s about China. It’s about global appetite for risk…and it’s about the big boys making a speedy exit with profits in hand, as The SP 500 “continues” to make lower highs and lower lows ( the definition of a down trend ).

This is certainly not over. It’s not a dip to be bought, as we’ve been on the other side of the mountain for days now.

Protect yourself, as I “remain” short risk.

 

 

 

 

Down Dooby-Doo Down Down – You Know This!

Forex Kong 10 Comments

The Japanese Nikkei ( you know……my favorite right?) Is currently down -422 points – and it’s only lunch time in Japan. That’s a 2% drop in a matter of 4 hours trading.

We touched on it last week when I (once again ) encouraged you to take note of the currency pair AUD/JPY and also suggested The SP would fade, and China would sink.

I expect tomorrow morning’s open will catch your attention…not to mention “the crater in your portfolio”, as markets tank, Japanese Yen sky rockets and The U.S Dollar continues to tank.

Wall St. already dumped their dollars ( on you retail ) so don’t look to see USD going anywhere but DOWN along with U.S Equities. You can use tomorrow’s price action as an indicator.

EUR is solid as a rock as of this evening. You’ll understand it…….some day.

We are deep in the money all the way around with the same underlying theme….risk off = Yen to the moon and USD to the basement.

No one wants to hold U.S Dollars ( as they are continually viewed as “worthless” ) when risk comes off…..it’s like a big game of musical chairs.

“Down Dooby-Doo Down Down” – The music is ending.

Don’t be the last to take a seat.

A Forex Plan Moving Forward – Risk Off

Forex Kong 1 Comment

The down trend in Japanese Yen ( and subsequent rise in risk appetite ) now looks to be “officially broken”. We clearly understand the relationship here.

It would take an awful lot to imagine pairs such as AUD/JPY or CAD/JPY reversing here, and putting in new highs. Very unlikely.

I am looking to start ( in typical fashion – with single contract entries ) short positions in any number of JPY related pairs with particular focus on JPY vs AUD, NZD, CAD ( the commodity related currencies ).

In general I expect to see JPY rise…..and USD fall along side risk.

I would be wary of trades in EUR/JPY , CHF/JPY and perhaps even GBP/JPY as “if/when” USD continues to fall….the E.U related currencies will take inflows so…..bigger moves to be seen in JPY vs Commods.

Still holding USD shorts – YES.

This is pretty “macro” here everyone, as at some point you’ve got to pick a side, plan your trades and put that plan into action.

If markets continue to trade “sideways” in general well……these trades could just as easily wallow/sit in the mud as the continued “distribution” here across the top goes on.

Broad strokes have me seeing a lower low now firmly established in SP 500 suggesting we bounce, and look for the ultimate short entry ( long JPY vs Commods, Short USD against E.U currencies ) over coming days.

If the media has us waiting until Sunday for more bullshit coming out of Greece – so be it. Small entries as mentioned above can be made prior…with thought in mind of either “adding to shorts higher” come Sun/Monday…..or getting some orders in “underneath” these pairs..allowing momentum to pick us up.

I see the table set for a significant move lower in risk appetite so….the breakdown above gives you the plan across most of the major currencies “pending” this plays out,,,,and “doesn’t” just continue trading back into the range.

Have fun. Enjoy some sun. Stay out of trouble if you can help it.