Fading Yen - It has gone parabolic

Quote from gmst:

One more scale-in today at 91.25. So, total risk = 1.5%

Typically, when parabolic moves are close to being over, there is both upside and downside volatility. I started this thread on 17th. And from 17th Jan to 24th Jan, market experience significant volatility on daily chart. However, post that market has become quite. This is not a good indicator that parabolic move is getting over. It has been 13 days in the trade. An ideal fade the parabola trade should have been over by now.

At the moment, I am keeping this trade on in the spirit I have described earlier. We will re-evaluate going forward.
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One more scale-in at 91.5, total risk = 1.75%
 
Quote from Maverick74:

I still don't think this is a parabolic move. Just a very orderly trending market.
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Agree with you. I don't like the dailies. As of now, the classic parabola doesn't seem to be present, which was there from 17th to 24th Jan. So currently, the whole premise of the trade is questionable.

Watching closely - had I been trading OPM, I would have been out with a timestop of 15 days. But its my own money and risk is low (currently), so watching as of now.
 
just a friendly reminder:

Quote from HurricaneUS:

question....what is your edge?.....getting in front of a freight train :confused:


edit: and please don't say that shorting parabolic moves is your edge
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If you're going to be a fool enough to short the yen, at least do it against over valued currencies like the AUD or EUR. Don't do it against the USD, which is due for a rebound very soon. You'll only add to your death dance.
 
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