📍 Road to mastering 1.150x of Eurobonds play (schematic representation of the macro swing)
1️⃣ Counter the false conception that every single risk-off flow has to produce an immediate USD effect; waiting moves and underlying MT / LT game changer positioning on the macro front are also totally justified now that Europe are making steps towards mutualising the debt!
2️⃣ Recognise the idea of a 'second wave' in the virus as being the key one in this positional swing! With this in mind, struggle to prevent freeing moves beyond 1.15 / 1.16 this year and in doing so any dips from disorganisation of our opponents, should be strategically bought.
3️⃣ Have tremendous respect for the Fed devaluation strategy; avoid any premature moves to counter downside (outside of EM and GBP) and try rather to operate under the watchword of momentum.
4️⃣ Aim for total mobility to the topside in 2021, but not for the individual mobility of every single cross.
5️⃣ Get used to considering the control of the bid as a "matter of importance"; do not let unaware sellers at the lows be decisive.
6️⃣ What is important for the macro positional flow is not the attack, nor even the barrier, but only compression.
Заметка
A soft close here, 1.120x barely holding but managing to keep a grip at the end. Will be a close call, Tokyo might settle this.
Заметка
Eyes on euro moving as collateral from BOE flow
Сделка закрыта: достигнута стоп-лосс цена
Stops could not hold the outflows after BOE. We can re-open this next week before markets break away for the summer.
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