July 29, 2020 | Negative FOMC Trading | Short Term Trading

#1
GBPUSD uptrend is intact and I may want to take a field trip to 1.30ish. I will look for longs around the last swing high. A healthy washout would be welcome as well.
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EURUSD uptrend is strong as well. Sellers failed twice (see H4 chart) and as lots of traders are trapped with their short positions. That's because most traders start selling when the price goes up (up to much) and hope that they catch the top. When they are forced out of their positions, EURUSD will do another field trip to the upside.

But it is also possible that we will see a healthy washout or that the price will simple consolidate for a while.

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profx_2907202_1.png (61.38 KiB) Viewed 2649 times

I missed this super easy 20 pips trade on EURUSD. Hopefully others did not.

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Note: I got ended up on the wrong side during the FOMC meeting and paid 1.5% of my account equity as educational fee.
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