“Remember that the real edge is at extremes because that is where asymmetric risk/reward comes into play.”
Once again this year, the market has been extremely complacent going into these high risk events. This ‘no fear’ attitude and positioning has proved extremely profitable for students of the markets that understand positioning and asymmetric risk into these binary events. Let’s see how the market takes this into the weekend but one would assume that there should not be too much appetite to stay long GBP. We’ll try and discuss this again in the Sunday video.
Don’t forget that we covered a lot this week in the Weekly Outlook Video and posted a lot of charts in our latest Game Time post. Don’t hesitate to catch up if you missed any of the content.
Here is a chart of a weekly swing move that we haven’t discussed on the blog yet. Food for thought…
As always there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.