Almost Isn't Good Enough


SLOW GO - It's been a slow go. I keep telling you there's going to be a major pickup in volatility and we keep waiting for it to happen. Today, we get the ECB policy decision which could bring some fireworks, but I'm not sure how much we really get from the event. Another explanation for the lack of volatility could also be coming from the US election front, where many betting houses are pricing Clinton as a lock to get the Presidential nod. But it's coming. I'm not sure what the exact catalyst will be. But it's coming my friends. 

ALMOST THERE - Now back to EURAUD. I have had my eye on it for a few days now and keep waiting to pull the trigger there. The signal to buy hasn't come just yet but we are getting real close. I thought maybe I would buy an extended move to the downside on Wednesday, but we didn't get there and I'm hoping it sets up on Thursday. Just as a review, the play here is risk off. As much as the Euro has its problems, if the market starts to sell risk assets it will hit the more risk correlated Aussie a lot harder. And so, the trade is getting there technically, and I hope we can take advantage. Stand by.

There's a huge difference between a trade that's close to setting up and a trade that is actually there. Via @joelkruger


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