📉EURGBP, cherry pic...from Smart Jet

08 May 2023, 16:19 · Views 2,771

📉EURGBP, cherry picking the entry here which feels a bit pretentious since it’s also near Goldmans stop loss but I think we can get it, I mean, technically price is sitting right at support so a bit of a pullback and squeeze of the late shorts is possible, setting a pending order to short at 0.87800 with target 0.86000 and stop loss 0.88500, 0.5% risk📉

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Smart Jet

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We are a group of professional traders with many years of experience in all areas of the capital market, and we traded with financial institutions

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

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

‼️AUDUSD update, moving stop loss at breakeven‼️

Smart Jet

Morning traders, with the CPI everywhere I look I see notes about the likelihood of a strong print, Goldmans is also expecting a number a tiny bit above expectations so we are geared in that direction but obviously when the consensus is geared one way the risk is that the number doesn't meet the already high expectations triggering an unwind of positions So, even if the likelihood is USD strength we don't want to get into the event too long the Dollar, meaning that we will likely adjust the recently added AUDUSD short before the CPI later, then once we see the numbers and the price action around it we can start looking at some medium term direction across the board

Smart Jet

Morning traders, no clean sentiment to trade from the FOMC yesterday, while instead the pressure on US banks is resurfacing again and that's likely going to dent sentiment across the board, in that context the likes of JPY and CHF longs are quite attractive again, also USD longs but only against high beta currencies are also a decent option where we are already positioned with the AUDUSD shorts So yes, we like classic safe haven currencies in this environment and looking across the board for setups to possibly position long the JPY or CHF Other than that, the ECB rate decision is another one that we watch carefully, hawkishness from the ECB will likely just put more pressure on risk assets while if they pivot we have some EURUSD shorts to take

Smart Jet