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Agree - congrats on a superb trade today, my favorite part was when you said you had no plans to cover. RBOB and HO spreads were very wild today as well.
Longs and longs. A down and then C up. Per mark Fisher C up is a set up when traders get caught with their pants down and that was the reason to go long again above 53. The way 54 area got rejected i am hesitant to go long on pullbacks, i was planning to go long around 53.50 area but too much of a pullback. She either takes out 54 or back to 52.50 area. When and how? One just had to dream little bit.
NOTE: Above 54 short squeeze which everyone has been waiting for may come true. It will be easier to trade if it somes before inventory day on Thursday.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Why everyone gets bullish at highs and bearish at lows? Maybe because different time frame traders are looking at different highs and lows. That's why it's useless to follow another trader trades with 15 ticks stop loss.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
chart shows the 5-30s curve vs. the euro. deflation trade has driven the euro lower as the market priced in ecb/qe which has also been reflected in the curve flattening through a combination of lower long yields and a future fed rate hike being priced in. now that long rates have spiked aggressively higher (bonds sold off) since month-end, the curve has steepened slightly as the euro has attempted to rally. oil prices also squeezed sharply higher, such that a reflation trade following ecb/qe action has followed a similar pattern to what followed the boj as taper talk picked up within weeks of QQE being announced. just as the euro has not broken materially higher, the curve so far, is in a range and near-term flattening remains likely into the next fed minutes. however, rates are signalling a possible regime change.