Freaky Forex Fun
Freaky Forex Fun
Frankly the tape across the board is giving me a headache and judging by the participation in the comment section you’re either on vacation (and thus not reading this) or are sharing my general sentiment. My gold long was just taken to the woodshed and I don’t see much else on the futures front that captures my fancy.
However some of the Euro pairs are looking interesting this morning and I’m playing a few freaky forex candidates with 1/2R position sizes.
EUR/JPY – quite a bit of support there on the daily and I’m grabbing a late long position with a stop below 138.455. Wish I would have seen this one last night to be honest but the recent retest lower makes this a respectable entry.
EUR/GBP – one of my favorites today – long here with a stop below 0.708. If we drop through it I won’t flip for a short position – that was my initial thought but in retrospect there is too much momo support on the daily.
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I hope I don’t need to point out that you should split your exposure between the EUR pairs you are grabbing. Correlation can really slap you in the face and if the start going against us they’ll do it in unison.
Cheers,
