I have been away on vacation last week and out at a conference this week. I am back in the saddle and things are looking great. Could I have taken a better time for vacation, I think not. I got stopped out of 2 trades with reasonable losses and then haven’t got back in to chase this volatility. After these past 2 weeks, I have looked at the fundamentals and the fundamentals have not changed the overall trends we have been watching. Prices appear to be testing similar channels or echo channels as I have called them in the past, still matching up to longer term support and resistance. Look (more…)
And in this season of slow news cycles, I have now seen the media create something out of nothing. I don’t even know where to start, but I wanted to write a brief summary of the latest media circus surrounding the possibility that China may begin to threaten the U.S…. (more…)
I had an email questioning whether someone in GBP/NZD trade short could hang on to the trade. It is easier for me to show my point using my blog with some images so here we are.
First, it depends on where you got into the trade. If you went short and sold near resistance (at 2.6100) you are still very profitable, if you got in the trade lower and losing money you are probably struggling right now and looking to get out.
Second, it doesn’t matter where you got into the trade, either it is a good trade now or it isn’t. If you are in the trade now where d (more…)
If you would like to sign up for this community, we can share pictures, thoughts and trades. Join the community down at the bottom right and let’s meet. (more…)
The Aud/Jpy has pulled back again and all the prior analysis still stands. The buying range as I see it is somewhere between 100.75 and 101.25. We are at the top of this range but I don’t know how deep into this area the price will go.
Usd/Cad has given a pull back and I like the idea of selling it.
Gbp/Nzd… not as convinced. It is stalling out at 2.6540 and has been within 50 pips either direction for the past 16 hours. 100 pips is a large “stuck area” for most pairs but not for this pair. That is hardly a shadow worth noting when the pair can move (more…)
