Long GJ

7 giu 2023Long at 42
3 times they tried to break the low but the buy back was vicious in all cases
HA break up on 4H, price structure damage
Fundamentals and carry trade both supportive
Stops taken out at 67
200SMA broken on many time frames

8 giu 2023

Commento

Yesterday's news (BOC surprise hike) means traders pricing expectation by Feds will hike - long USD means short JPY, leading to yesterday's intermarket risk-on mood.

For today, FXL reporting 33B of option expires rolling off at 10am NY @ 140 USDJPY keeping price action subdued.

8 giu 2023

Trade chiuso manualmente

Closed out for 100.
Just mindful of US jobs data solidifying US rate pause next week, so possibly sideways action over the next few days
And I dont want to be fatigued by watching my PL go down by 50.

Overall, still bullish given rate differentials, will look to reestablish at lower levels, but also somewhat cautiously because mindful that this current bull run is getting stretched. Ideally we fall back to 171-172 zone and I'll start establishing some long term positions, otherwise will stay nimble with short term tight stops.