I always thought the above quote is for stocks only. As forex works as a pair, sell GBP means GBPUSD down, sell USD means GBPUSD up. And I can't really tell which is the rumor, which is the fact and which currency to buy or sell ! ...

Cable Update (GBPUSD)

Thanks for posting the report and taking the time to explain.

EURUSD

Yesterday was really dramatic. Majors broke to new highs. Then FOMC sank all of them with its pessimism. FOMC was concerned about how to spur growth, was expecting more Fiscal aid (not we all know none has yet come), rising virus cases. Very hard to ...

OxyGen FX Trading Journal

Good morning to traders monitoring the Asia hours. Yesterday was really dramatic. Majors broke above to new highs but no follow-thru, then FOMC sank all of them with its pessimism. The fall is too sharp. Very hard to trade. Better to see what Asia ...

Cable Update (GBPUSD)

But in this era of "near zero", "zero"and some even "negative" rates, will Carry Trade still matters? I am starting to doubt. Most Central Banks have committed to "low rates for prolonged periods".

Cable Update (GBPUSD)

Closed EURUSD and GBPUSD both for about +30 small pips, when they suddenly sank fast. And I close fast, thankfully. In fact, broadbase USD rally for all Majors. If prices started to fall at least like 100 pips more, today's rejection will look more ...

OxyGen FX Trading Journal

I had placed the GU shorts on the premise of ""reaction"". Very unscientific, I know. LOL. Oh, small position. Dangerous to guess the top. LOL I like to see reactions of price when it hits a milestone. Could be ""rejection" or "euphoria". When ...

Cable Update (GBPUSD)

Your words resonate. Yes I agree, chasing to short the top is dangerous. I have been caught many many times with devastating results. Mainly because I will place a huge position. But it is so tempting, as there are a few times it was easy money when ...

Cable Update (GBPUSD)

Wow, I made a small GBPUSD short just before posting the above. And after that GU just sink! Closed with +30 small pips and ran......

Cable Update (GBPUSD)

Trading and managing trades is priority.

Cable Update (GBPUSD)

Update on trades: Had closed remainder GBPJPY shorts for +60pips Had closed CHFJPY shorts as in previous post Had closed USDCHF longs Closing now EURJPY shorts for +5 pips, as it seemed not moving down. Went short EURUSD Went short GBPUSD Update on ...

OxyGen FX Trading Journal

Closed USDCHF longs for +50pips image Closed of CHFJPY shorts for +75pips image

OxyGen FX Trading Journal

Its gotta be the work of SNB! SNB to the rescue and save the day! (...for its exporters....a strong CHF makes it hard to export out ) Its not broadbase USD buying, as AUDUSD and USDCAD are stationary, and NZDUSD even rally. image See EURCHF as ...

OxyGen FX Trading Journal

I got a very lucky break when I short a small position when GBPJPY got rejected again at 140. IMO GJ at this point still neutral, can still continue uptrend. But if it decides to go down, it might drag GBPUSD with it. image

Cable Update (GBPUSD)

Close half of GBPJPY shorts for +67 pips as it hits former channel top. Caught a lucky break for this one. image Close half of CHFJPY shorts for +25 pips as it hits channel base. image EURJPY shorts still in play at +30 pips USDCHF longs still ...

OxyGen FX Trading Journal

Short EURJPY and CHFJPY. Will not be touching the Majors as they are in the midst of string rally. EURJPY, short. Channel not so well defined, which is somewhat of a concern. Nevertheless the 13AUg spike could (for now) be label as blow out top. ...

OxyGen FX Trading Journal

Re-newed broadbase USD selling with a vengeance. According to reports, this was triggered by US election uncertainty and the disagreement over further COVID19 relief. All very political. Lives seems matters less than politics. The USD selling has ...

OxyGen FX Trading Journal

USDJPY shorts close loss for -35pips, CADJPY shorts close at BE. Now THAT did not work out. On a side note, EJ and NJ did went on to dip a bit further, but had quickly recover and rally more. USDJPY , Daily, for perspective view image

OxyGen FX Trading Journal

Today's bullish candlestick (or OHLC bar or etc etc) is already quite stretched. (I guess same for all Majors....) Now that it has burst above consolidation, just becareful that it will eventually have sharp rejection to signal end-of-trend, which ...

Cable Update (GBPUSD)

Exciting times! New highs for all Majors! (except NZDUSD and USDJPY) Missing out on the actions today doing other things. Was still thinking this week gonna be a slow week without any important events. And being Tuesday.... I was wrong. LOL Will ...

OxyGen FX Trading Journal