📍 USDCNH into the elections
Oct 2020
Markets are moving quickly.
Sellers completed the third wave target at 6.629x as widely expected. The pullback we are tracking in wave 4 is now brilliant proof of a lust to expand even further down.
In the 2020 macro chart, we are ahead of schedule and a healthy pullback into the elections, followed by an exchange lower seems like the pragmatic play.
Of course if you are short from above you have nothing to do but continue to add on pullbacks, but for those wanting to get closer to the flows, a leg back towards 6.85x seems highly likely.
Thanks as usual for keeping the feedback coming 👍 or 👎
Oct 2020
Markets are moving quickly.
Sellers completed the third wave target at 6.629x as widely expected. The pullback we are tracking in wave 4 is now brilliant proof of a lust to expand even further down.
In the 2020 macro chart, we are ahead of schedule and a healthy pullback into the elections, followed by an exchange lower seems like the pragmatic play.
Of course if you are short from above you have nothing to do but continue to add on pullbacks, but for those wanting to get closer to the flows, a leg back towards 6.85x seems highly likely.
Thanks as usual for keeping the feedback coming 👍 or 👎
