Forex Turning Point – Today Is The Day

Ok “mother market”…..I’m gonna give you exactly 24 hours before you’ve got a major decision to make.

I know, I know , I know…….you are the boss – and I’m just a boy trying to make a buck but seriously…you’ve gone a bit too far this time and I’m close to running out of patience.

This “pesky little thing” you call “the dollar” has just about done enough to frustrate me and my friends to the degree that we will soon be pulling out our hair – short of you making up your mind.

Are you going to let this thing get away on you? Or are you going to do “stick to the plan” and toast it like a marshmallow?

Yes , yes I understand – you can’t just make these decisions on the turn of a dime, so let’s do this……

If USD doesn’t poke its head back under 82.23 and turn red (really red) mighty quick…..then we’ll just let you have your way,  and start to consider the opposing view.

I will look to get “bullish USD” should you decide to make such a mistake right  here…right now.

Personally, I feel it’s a tad early – but if this is what you want… be it.

24 hours – and I won’t bother you again.

12 Responses

  1. schmederling September 3, 2013 / 8:50 am

    Should be an interesting day to say the least….. like you mind-set Dr. Kong!

    • Forex Kong September 3, 2013 / 8:59 am

      I was literally “talking to my computer” and just decided to write it down.

      Nikkei up like +900 points during the low volume / holiday period? – common.

      There truly is a war going on…and most people likely don’t really “see” it playing out….

      Everyone on holidays and things get waaaaay outta wack! I assume we’ll correct here.

      PM’s outta the woods? Gees……I’m trading EXK and will wait for pullback.

  2. Robert September 3, 2013 / 9:09 am

    oh man.. USD just jumped and Yen collapse… not looking good..

    • Forex Kong September 3, 2013 / 9:15 am

      No kidding……this thing will ALWAYS push you to the absolute “brink”!

      At times I wonder “seriously”!? – can this actually be happening??

      It’s happening………its happening.

  3. Robert September 3, 2013 / 9:18 am

    NEed a risk off event to happen man.. like the missile thing earlier…

  4. Robert September 3, 2013 / 9:21 am

    Yen is either being heavily bought or heavily distributed…

    • Forex Kong September 3, 2013 / 9:26 am

      Me…….I still see it as the “current volatility” and Yen / Nikkei move being primarily “reactionary”.

      I’ve got things pushed “exactly” as far as they’ll likely go with Nikkei at 14,000 and USD where it’s at.

      I’m “assuming” this move will reverse here pronto.

  5. Robert September 3, 2013 / 9:30 am

    wasnt the whole purpose of QE to weaken the dollar.. looks like they are losing to the japanese.

    • Forex Kong September 3, 2013 / 9:38 am

      Here we are at a serious level of consideration……I’m giving it 24 hours.

      USD is now pushing at levels that would suggest a “change in trend” so……a limit has been reached.

      Today is the day so….let’s see where she goes.

  6. TheTrueHeir September 3, 2013 / 9:51 am

    Kong, why is it that despite the USD being incredibly strong this week, A/U has been extremely bullish? Because the majority of retail traders were long on AUD coming into the week, I thought for sure it would continue its drop. When retail traders are heavily sided one way, almost always the pair moves against them no? Please shed some light on my biased viewpoint. I haven’t ran stops on my shorts, and now is the time for me to pick a manual SL target.

    • Forex Kong September 3, 2013 / 10:47 am

      Ok…..AUD is a great example here.

      It’s an interesting example no question. You would have to of seen that AUD has equally been falling “along side” USD for several weeks as well right?

      This in itself is somewhat “counter intuative” as we generally associate “risk on” AUD up , and risk off AUD down….but with “all currencies currently racing for the bottom” it’s now become a question of “which is falling more”.

      A question of a currencies ” strength” in this environment is really a matter of it’s “degree of weakness” vs another…..a difficult thing for anyone to wrap their head around!

      AUD is taking it’s bounce in a steady and downtrend “as is” USD. Can they both reverse? Oddly – ( and in this example “very odd” ) YES.

      But this again depends on one’s time frame. Consider that AUD may bounce here, but the trend is still down. Then consider that USD may bounce here and / or REVERSE! Then you’ll get your usual correlation.

      The timing can really muck up one’s shorter term perspective. Hope it helps.

    • Forex Kong September 3, 2013 / 10:50 am

      Personally – (as I have no position) I’d look to just tough it out, as I expect further AUD weakness, anytime soon really.

      I can’t make that call for you – but that’s my take.

      AUD is taking a bounce here – nothing more.

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