Revenge Of Bucky
If you think the tape is looking nasty in equities then be glad you’re not short the Dollar today:
That’s right – bucky finally had enough of the perennial abuse and spent all summer planning its sweet revenge – slasher style! Let’s take a look at its recent victims – but be warned, the following images may be disturbing:
Ouch – that’s got to hurt. AUD/USD fell off the plate this morning and is now so far outside both Bollingers that it may need a GPS to find its way back.
But Bucky didn’t stop there and took the ‘blood in the streets’ metaphor to a new extreme:
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NZD/USD also took a few stabs into the chest – it never had a chance. Similar setup as AUD/USD.
USD/CAD is obviously rallying hard – boy, that was one sweet entry. You may recall that I planned on taking a short trade at the NLBL but recommended a long position once it breached above the second buy net-line at 0.9978. Yes, yes – you can thank me later 😉
Now regarding those comments on the chart – yes, we are waiting for a snap back here. BUT CONSIDER YOURSELF WARNED – this is not equities and squeezes can go on for a lot longer than you think. So unless you have money to burn wait for confirmation – I personally would like to see an inside candle tomorrow or perhaps a RVB next Monday or Tuesday.
Here’s my FX map – use it with care. But be aware that it’ll blow up any petty laptop displays – it’s rather huge 😉
I’m going to grab a late breakfast and chime in on equities before the close.