The Kongdicator has obviously taken its signal as I’ve entered like “a million trades here” as of now including to start:
short: CAD/JPY
short: AUD/JPY
short: USD/JPY
long: EUR/USD
long: GBP/USD
long: EUR/NZD
long: EUR/AUD
There is no question that in the immediate “inverse” effect of a tanking U.S Dollar is a rising EUR, so that’s a given. GBP strength along side ( geographically speaking ) makes continued sense, and it’s hard to expect much out of the commod currencies as risk comes off.
USD/CAD still hovering but will likely make it’s move lower here as well.
JPY is a tough nut to crack, and I won’t be surprised to see it put up a larger fight but…..short term trades with a quick hand / ready to jump look to be worth a shot.
Hmmm…Took me an hour or so here to reflect on your trade set ups and scan my charts! I am short Commod currencies vs. Yen as well, have been since yesterday morning, holding EUR/AUD (My favourite pair) from way way back (1.38 ish) which in itself is worth about 18% of my total capital, but looking at adding now that we crossed over 1.50. GBP/USD I scaled out a bit but left 25% of my position open for a longer term outlook, but I am still hesitant on the EUR/USD, as I personally just hate this pair, especially in recent weeks…If tomorrows NFP shrugs off any “Good US numbers” I will look to get long as well.
Also, took a small position in Oil yesterday at 96.28, and have to thank you for that one as I re – read your previous post on Oil which made me look for an entry, and yeah your levels were pretty bang on Kong, so keep it up 🙂
Love your blog man, you talk reality and its a nice break from a lot of junk you find on forums, etc, these days.
Cheers
P.S what are your thoughts on NFP for tomorrow? Are you looking to stay open through the numbers or looking to go cash before or at least a portion before?
CB
I’m quick like a rabbit these days and bagged 4% on the day.
Tomorrow’s data means “diddly squat” to me as the U.S Dollar has crossed into “dead man’s land” so……nothing outta the U.S is gonna sway what I see/know in currency markets.
Wrapped up with a bow for X mas – USD is toast.
Shit….here I go again…..
The action in USD “specifically” isn’t really even the issue here.
It’s moreso “what it suggests”.
We are clearly seeing “risk off” and without question USD selling off “along with risk” as the “prior prophecy” finally comes to fruition.
US bonds down, US currency down, US stocks (always the last to go) down.
I usually make more cash in the JPY pairs, and as the commods are selling off “along side USD” the USD pair trades aren’t as straight forward for newcomers.
You’re in great shape man. Great trading…and all power to you.
So….you see a correction in Equities finally happening in December? Just curious.
Without question this next dip (all be it the last) will most certainly be bought by the most intelligent of retail investors.
We’ll give u.s equities one more pop to new highs regardless of the now confirmed death slide in the dollar and bonds.
You don’t think the boys on Wall Street are just gonna roll over right?
They’ll get the last of those arm chair investors to dump in….before taking all.
Hi Kong,
Yep, got the EUR/AUD as well (long).
What is your exit strategy on the USD/JPY short? I was long couple of days ago but got stopped out, for a small profit.
Long EUR/USD, yep, I can see why you took that, nice bullish candle on the daily. Did you get in after that move, or did you anticipate? What is your worse-point exit, a drop below 1.3543?
EUR/NZD had a nice doji 2 days ago – was that your entry long?
How long do you expect these to ride Kong, do you have a price point exit, or a time exit? MA exit?
Thanks
Hey Kong – yeah I am chomping at the bit for a short USD/CAD position here but waiting on the sidelines currently but have layered positions here to try & catch the move….. long WTI for a could day now along with the PM’s which I have been trading in & out of….. but this there will be a BURST run very shorty as soon as later this morning & into the jobs announcement….. now only time will tell…..
Best of luck to all –
Ooo and the futures have erased all losses of yesterday..guess nfp was leaked since yesterday setting up a trap..
I doubt that – and really don’t care about the silly U.S numbers here this morning either, as they will be as phony baloney as the rest.
Even at that I have a hard time imagining any major “surprise to the upside”.
I’m just eyeing my current trades / positions / plan – and everything looks good to me.
wow crazy madness.. seems like yesterday was really just a bear trap
Its been 5 straight days down in equities Robert so….I’m not sure what you’re expecting.
I look at my trades with profits in JPY’s overnight….as well EUR/USD rockin, GBP/USD rockin , with small squiggles in a few commod related ( as AUD caught a bid this a.m – which Ill be shorting “shortly” ) and all is fine!
We “expect” this to drag on and squiggle right? We already “know” its a struggle, and in turn trade smaller…..build positions over time etc….
I’ll let the dust settle here this a.m – and imagine the ol USD will be red again in no time.
hi kong, hmm i thought the jpy crosses are going up atm?
They most certainly are so…….
1. Are you “selling around the horn” and picking off this spike?
2. Did you book profits on the few trades you had last night, and now see this as another opportunity?
3. Are you hanging on for dear life in a completely over leveraged position huddled in the fetal position under your desk?
I’m #2
yup. I sold yesterday when i saw signs of it turning up for UJ, just that I thought the good data will be bad for the mkts, seems that it is the opposite lol