M2P Contra-Swing Strategy

[4xStar]

Originally Posted by mytwopips

I don't like any setups right now. I am starting to gather tiny longs on u/j but I am prepared to go 1200+ pips down too. So unless you want to take that kind of risk, don't follow this call. I may be in u/j for the long term and am prepared to turn that into an investment also.

Oh, cool .. in that case I will get short the UJ and ride it down the 1200 pips .. oh, wait .. I am short already from 110.50 so I will just run a generous trailing stop and may it fulfill your 1200 pip down projection
Then I will get long.

[mytwopips]

Originally Posted by 4xStar

Oh, cool .. in that case I will get short the UJ and ride it down the 1200 pips .. oh, wait .. I am short already from 110.50 so I will just run a generous trailing stop and may it fulfill your 1200 pip down projection
Then I will get long.

Don't you think we will raise rates in the next six months?
The banks already raised rates on us. Do you think the fed is going to let them have all that spread for free.

I know you are now a fan of following the weekly trend. Your u/j short is not justified by that? or am I wrong?

Good luck with your +1200 pips. If you get it, we will have finally found a common place to be both on the long side at least.

[4xStar]

Originally Posted by mytwopips

I know you are now a fan of following the weekly trend. Your u/j short is not justified by that? or am I wrong?.

The weekly is just to see the big picture, which I often forget to do .. I shorted the UJ on Friday because it just "felt toppy". Lucked out I guess.
Anyway I shall be taking quick profits on retraces if it keeps heading down, but will be flat all jpy combos before the BOJ thing this evening.

Good luck with your +1200 pips. If you get it, we will have finally found a common place to be both on the long side at least.

Yay.

[mytwopips]

Time for an update.

Because of market conditions right now, which are not favorable on most pairs, I have only been using this strat with u/j right now and doing very well.

I will give an update to when I use this strat with other pairs besides u/j.

Most pairs need to find their mid to long term balance area before returning to this strat.