Latest from Goldmans...from Smart Jet

08 May 2023, 16:19 · Views 2,878

Latest from Goldmans, they are going short EURGBP, mostly as a GBP bullish trade but with a hint of EUR bearishness as well I like the trade, inflation has been stubbornly high in the UK so there is also room for a hawkish BoE rate decision this week, I will be doing some further reading about the whole context since I haven't been diving deep much into the UK data lately except the inflation numbers but we will likely get into the trade today

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Smart Jet

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‼️AUDUSD update, moving stop loss in profit at 0.67100‼️

Smart Jet

Morning traders, I have removed the EURGBP pending order already which looks too far to get filled now, I will keep an eye on it for an entry probably nearer 0.87400 now, will see Other than that, not a lot going on, EURUSD is still in the chop where we want to sell resistance rather than support, while something that catches my attention this morning is AUDUSD, I think that's near the tipping point of this rally so we might add to AUDUSD shorts soon, obviously keeping in mind that we have a big CPI number scheduled for tomorrow so we don't want to head with too much USD exposure into that, just in case Also crypto, remember to turn and stay defensive on BTC, looks like it's about to flush lower at any moment, which is good, we want price a lot lower to start thinking about loading up again

Smart Jet

📉GBPUSD, I’m liking this a bit better than EURUSD at the moment so setting a pending order to short at 1.25500 with target 1.23900 and stop loss 1.26200, 0.5% risk📉

Smart Jet

Morning traders, haven't pulled the trigger on GBPUSD shorts yet nor any other Dollar long, probably I'm being a bit too prudent but I feel the timing and market structure is not as good as it should for USD longs yet, arguably the market is also lacking catalysts to get a clear direction, GDP today is unlikely to be much of a market mover but PCE tomorrow without a doubt, I keep monitoring for an entry, also keeping in mind it's month end so we could see some random month end flows over the next two days, in other words, keeping it cautious, we have a fundamentally packed week next week with the FOMC and ECB rate decisions so no need to rush into trades right now Other than that, still standing ready to take profit on the BTC longs, if I see price above 30k I will be VERY tempted to do so, will send out a full email note with more details on why we are taking profit when we do so

Smart Jet

Morning traders, I'm seeing a big beautiful bearish engulfing on the daily on GBPUSD, and that I think will be enough to get me into shorts over the next couple of sessions Yes, currently we should expect a bit more Dollar strength heading into the FOMC next week, the current context feels a mix of risk off sentiment with also some hawkish expectations for the upcoming rate decision, a 25bps is sealed in but now there is some sentiment growing for even another 25bps hike at the June rate decision, NOT sure about that because between now and then the pressure on banks could resurface but we will see Either way, my focus remains on USD longs at the moment, open to changing my mind quickly if the PCE on Friday prints soft, but for now, I will be looking for GBPUSD shorts near 1.24800, no pending order placed yet

Smart Jet