USDRUB on track for potential play if momentum HH is baked, emerging markets under pressure a bit as Chinese equity and currency markets tumble, potential for RUB to follow on soft correlation.
USDRUB on track for potential play if momentum HH is baked, emerging markets under pressure a bit as Chinese equity and currency markets tumble, potential for RUB to follow on soft correlation. {image}
Ignored
USDRUB stopped out, decent momentum move but it failed to proceed further.
CLDC short squeeze, looking to put this one on shorting watchlist for next days, but needs first momentum shift before considering.
Has history of previous short squeezes....low caper.
Long term macro in play, Crude oil. No surprises there Saudis picking up the supply to fill the gap on Iran which was basically all round expected move. However what is important is the implied shift of strenght, which as pointed by Aramco 3 days ago and confirmed today is boost of whole 1 million barrels of extra production, which is more than just offseting Iran. Thus putting soft bearish macro view on Crude with soft target at 60 ish area. Its only a softer play since the major counter contributing factor is decrease of supply by Iran of course.
As always the main goal is to be aligned with macro direction and then finding micro plays along with it, from all the setups provided on thread. But first momentum shift towards bearish side needs to happen before considering any plays (strong daily drop).
(binned per thread starter's request) Market bottom rotation trad
