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Miss Whiplash!


Mercury

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Anyone else feeling whiplash on USD FX and precious metals?  This isn't just about Draghi doling out the usual diet of sh1te but is characteristic of a complex wave 4.  At least the prevailing direction on USD is leaning towards up (and therefore down on all the relevant FX crosses) but Gold and Silver are something else.  Until these complex waves resolve trading is very risky.  Perhaps this Draghi pop and reversal on EUR and GBP is the final bull exhaustion and we can get on with the Wave 5 down to the bottom of these markets...  On Gold, who knows...

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EURUSD was a marvellous example of the whiplash this morning.  I shorted yesterday and was moving my stop down behind the price.  So when it took off like a rocket it stopped me out with a small 35pt profit.  But wow it then reversed and droppped like a stone.  

Whiplash alright.

Like you I'm believing the USD will get stronger against most/all currencies so will re-enter EURUSD at some point with a fall to 109nn my target.  

C

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