6J1! - Time To Get Very Long Yen

2022年8月17日

6j1! having a nice little bounce here at support to pop back above the 20 year low also a 1:0.618 long term fib extension just below.

This has already had the fear test plunge followed by rocketing automatic rally and now has pulled back to the 20 year low again.

May meander, may pump - who knows really but this is the big one mark my non financial advice words.

My pick for a FX pair is USDJPY because I think DXY has also hit a major top. Idea linked below.

Not advice.

2022年8月18日

註釋

Also its had 3 waves now - could be a flat correction. It sits right between the 0.5 and 0.618. It looks good to go.

2022年8月18日

註釋

USD is just too risky to short against and also considering my stock market bias is to the downside then I think that DXY may have another leg up. And so I am short CADJPY that seems quite a bit safer to hold long term.

2022年8月18日

註釋

More fear testing probing lower I think. Its now in the common reversal area of 0.618 - 0.786 and 4H RSI soon to go oversold.

This decline looks more corrective than previous.

2022年8月22日

註釋

Look like i was wrong as its moved passed retracement fibs in a hurry and was a running flat ABC dominant trend appears to be returning.

Next fib is 0.006.

Bail !

2022年9月1日

註釋

Very bearish upper wicked engulfing momentum candle on the monthly. It was good to exit. Next stop $0.006 for the 1:1 extension where i will be interested again if it gets there.