1130 big fight!
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After ending the phone call with Ling Xiaoyun, Chen Hui looked at the spot gold chart again, and after confirming that there was no major problem, he turned off the spot gold 1-hour chart with confidence, and then switched to the USD/CAD chart!
USD/CAD is currently oscillating at 1.0935!
Because the previous U.S. economic data was favorable to the dollar, spot gold fell sharply, and the USD/CAD also rose by 40 points, rushing from 1.0900 to 1.0940, but failed to stand at 1.0940 and fell to 1.0935!
Chen Hui's fingers tapped lightly on the table, pondering.
"There's no chance to increase your position!"
"1.0935 is too high!"
"Let's wait!"
At the moment, he already has a long position of 1.5 million lots of USD/CAD in his Standard Chartered trading account.
Later tonight is the Bank of Canada's interest rate meeting.
He's ready to make a big deal!
··
Helen on the side also looked nervously at the USD/CAD chart, her little face was a little red, and some beads of sweat gradually appeared on her forehead.
At present, she holds a total of 2,000 long positions in her account for USD/CAD, with an average opening position at 1.0850, a fluctuation of one point is a profit and loss of $20,000, and she is currently temporarily making a profit of 85 points, totaling $1.7 million!
She is now operating an account with $5 million in funds, and she has made a profit of 32% so far!
She wanted to close her position!
I'm afraid that the profits in my account will be lost before the Bank of Canada's interest rate meeting!
Seeing that USD/CAD seemed to be about to fall below the 1.0935 level, Helen suddenly tensed up and became a little worried.
"USD/CAD is falling!"
"It's going to fall!"
"The 1.0935 position is unsupportable!"
"Huhu, I'd better settle it first!"
Immediately, Helen closed her long order of 2,000 lots of USD/CAD at one time!
Suddenly, USD/CAD fell by 8 pips!
Although Helen's 2,000 hand orders are insignificant, there are very few bids at the 1.0935 position at the moment, and Helen's 2,000 long positions are closed by 8 points, instantly suppressing the USD/CAD down 8 points to 1.0927!
Helen closed her position at 1.0930 on average, making a total profit of 80 pips, totaling $1.6 million, and her account equity was as high as $6.6 million.
Shortly after Helen closed her position, USD/CAD rose by 3 pips in 5 minutes and returned above the 1.0930 level.
Five minutes later, USD/CAD actually made another move, rushing from 1.0930 to 1.0940!
Helen was slightly surprised, secretly glanced at Chen Hui, and looked at Chen Hui in the boss's chair with his eyes closed, and she breathed a sigh of relief.
··
At this moment, Canada, Toronto, Sprott Asset Management (SprottAssetManagemen) headquarters, the company's president Sprott looked at the USD/CAD chart with a gloomy face, the US economic data is positive for the dollar, and the USD/CAD is now very strong near the 1.0930 position!
He's thinking about whether to add to his short position on USD/CAD!
After all, now the USD/CAD is at a high level, and there are a lot of buying orders, which is quite suitable for adding positions at a high level!
He took a closer look at the 1-minute chart of USD/CAD and found that the range of 1.0930 to 1.0940 seems to be really suitable for adding positions!
At this time, the assistant saw that Sprott seemed to want to increase his position at 1.0930, so he asked: "President, are we here?"
1.0930 to the range of 1.0930 to short USD/CAD? Maybe we can directly push USD/CAD below the 1.0900 level!"
Sprott pondered for a while, thinking that the assistant was right, and now that he is at a high position, there is no reason to miss such a high position opportunity!
He immediately ordered: "Let's push USD/CAD below the 1.0900 level and attract some bears to follow suit and suppress USD/CAD together!!"
"It's just the right time to frustrate the bulls in the market!"
After all, since last night, USD/CAD has rebounded and risen by 110 pips!
From last night's low of 1.0830 to 1.0940 now!
Sprott was very unwilling in his heart!
You must know that their Sprott Asset Management holds a short position of 4 million contracts of USD/CAD, and a fluctuation of one point is a profit and loss of $40 million, which rebounded by 110 points, reducing their profits by $4.4 billion!
Sprott that distressed!
Their 4 million short positions in USD/CAD were opened at 1.1000 on average, and at the moment USD/CAD was at 1.0940, with only 60 pips floating in the account, a total of $2.4 billion!
Thinking of this, Sprott's heart is very angry!
"Be sure to teach these bulls a lesson!"
"Can't let these guys get too complacent!"
Immediately, he commanded again: "Just smash 300,000 lots of USD/CAD short orders into it!"
"This time we are going to add another 1 million lots to our short position on USD/CAD!"
"We're going to do a big job!"
According to Canada's macroeconomic trend, Sprott will not raise interest rates!
And in his opinion, now that the daily chart of USD/CAD is in a downward cycle, can a single central bank interest rate meeting change the downward trend?
He is also very relieved to short USD/CAD at a high position!
Before, he wanted to wait for the Bank of Canada's interest rate meeting to come out and make a decision!
But now he is being made angry by the bulls in the market!
The profit in the account has shrunk so much, it really makes him angry!
··
When the assistant heard this, he immediately gasped, and added another 1 million short orders?
What's that concept?
They are going to open a short position of 5 million lots of USD/CAD!
What if the Bank of Canada rate is bullish USD/CAD at that time?
Of course, if the Bank of Canada interest rate meeting is bearish for USD/CAD, it will be more perfect!
They don't know how much money they're going to make!
His back was already sweaty, his face was very excited, and he hurriedly said, "Yes, president!"
Saying that, he hurriedly ran out and shouted, "Add positions and short!"
"300,000 hands !!"
"Smash USD/CAD below the 1.0900 level!"
··
Just as they were about to increase their positions to short USD/CAD, USD/CAD suddenly plummeted, catching their traders off guard!
Suddenly, the hand stopped in mid-air!
In just 5 minutes, USD/CAD fell by 40 pips!
Dropped from 1.0940 to 1.0900!
It doesn't seem like they need to be shorted at all!
There's nothing to do with them anymore!
The assistant and many traders watched this scene in shock.
Sprot looked at this scene and hurriedly ran out and said, "Stop !!"
He never imagined that an institution would take action in advance!
Directly smashed the market, smashing USD/CAD from 1.0940 to 1.0900!
They don't need to add to their positions anymore!
"Bastard, which guy is ahead of us!"
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