USD/JPY SHORT
Updated
Good luck to anyone longing here. Bloomberg, CNBC and your favourite twitter influencer probably tell you to do so.
RR is completely out of proportion, only sensible direction for a swing is short IMHO. Trading correctives is nasty business but the opposite makes no sense in this case.
DXY at resistance, daily wants down, weekly wants down, monthly wants up. The latter will point down soon. We reached an area of zero liquidity with central banks chatting among each other over sake and buds when to pull the plug on this one. YCC is baked in, global inflation expectations baked in, price reflects what we know and expect today.
I like 141, 134 and 132. Precise entry difficult and we will bounce around will plenty of volatility. It's called widowmaker for a reason -> PATIENCE, low leverage, scaling.
IF this breaks out to the upside with volume, I think there will be bigger issue to worry about than this trade going wrong.
RR is completely out of proportion, only sensible direction for a swing is short IMHO. Trading correctives is nasty business but the opposite makes no sense in this case.
DXY at resistance, daily wants down, weekly wants down, monthly wants up. The latter will point down soon. We reached an area of zero liquidity with central banks chatting among each other over sake and buds when to pull the plug on this one. YCC is baked in, global inflation expectations baked in, price reflects what we know and expect today.
I like 141, 134 and 132. Precise entry difficult and we will bounce around will plenty of volatility. It's called widowmaker for a reason -> PATIENCE, low leverage, scaling.
IF this breaks out to the upside with volume, I think there will be bigger issue to worry about than this trade going wrong.
Trade active
Note
Yesterday was a warning shot.Note
149.125, or 150. End of it.Note
JP40Y issued at 1.725. JPY10Y now at 0.743.Note
UTAD.Note
149.125 MP centre.Note
Who poked the bear? play stupid games, win stupid prizes.Note
First TP reached.
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