Anyone still long AUD/JPY? I have a massive unit build-up (in my live trading account *ahem* for my detractors) in my main sub-account - long trade. Plus a few of my small live cash tester sub-accounts longs have neared going up in smoke in the past few days. I had a couple of them vaporize in one of the last big downdrafts. But, in the last few weeks, the pair has sustained one of the most vicious, relentless spikedowns in recent history! It keeps up like this, I'm gonna need to move more cash into that account, switch strategies, and try to dig out the primary positions. It'll need to drop around another 3-cents against me, first. Any traders have thoughts about this pair? X 82.37
Kastro, As a top flight, advanced currency trading strategist, and a person's view I respect, do you think NZD is really pulling AUD down, like they say? X
Hahahha, advanced currency trading strategist....Good one I think there is much fear in NZD right now, so in a way, yes NZD is pulling AUD down...However, to the extent the AUD is dropping, NZD does not match this. -Kastro
Fear! Excellent determination. Makes sense for a move this huge. At best, this market is very skittish. Would you agree that, overall, the EUR/USD rate may be having some persuasive pull?
reviving an old thread... >>> just shorted today at 93.25. >>> stop around 93.70 area with limit around 92.30 area. >>> this trade is based off daily chart. i believe there may be at least one breath of a down move left. >>> this trade is not for the feint of heart since it is against the carry. but i don't expect to hold this trade for more than a few days and if it gets close to my profit target within that time it should more than cover what i pay on the carry. >>> additionally, it is risky since it is fading a larger up trend that has been in place for some time...i just believe this is a healthy correction that may have a little bit more follow through.