The Spec position is very heavy across the board $ short. The trend is the most powerful force regardless of the size of the Spec. position. There are underlying forces that dwarf the position size of the Specs for this $$ weakness. In short, the heavy spec. position just delays and softens the inevitable move toward continued USD weakness. The whole world was long the NASDAQ for many years but it still continued to rise. Trend is very powerful force.
This is the dip to buy. 1.2988. I'm waiting to cross back above 1.300 here then buying with reckless abandon.
***BUY BUY BUY *** I'm whaling this one, just going to ride it out and see how much the market will give me.
No, the guy was talking about 1.35+ EURUSD and USDJPY 95. I don't know if I missed saying that. He believed in a retrace this year, then the higher targets next year. I tend to agree.
Finally it stopped teaseing and hit 1.3, 100% from here lol so whats everyones profit target? I'm going for an even 1.3050 but I think we think test the high this time around, well hopefully.
Not trying to take opposite sides here, but equities doesn't involve that many losers when it rises ... except for those hedgeing futures. Therefore currency-trends tend to hurt some - while benefiting others, or am I fundamentally wrong here, as the fx newbie I am. edit: looks like a little capping just below 1.3010 for now - might be a good target ? I am about +10 on my USDJPY, but I would like to see around +30 .. I will just be as patient as I will need to on this one then ... (perhaps reduce a little later).
$$ $$ $$ So what is your avg long and how many lots? I am 4 lots long at 1.2996. Its trying to bust 1.3020 !!you can do it!!