Wednesday, December 19, 2018

EURUSD - Chance to win a present before Christmas?

DISCLAIMER: The information presented here is for informational purposes only. These are not trade recommendations. Please follow your own trading plan. Trading is extremely risky and you may experience substantial losses.

Some thoughts from my daily Forex analysis.  Here's a look at EURUSD key levels.

Key Highlights:

  • 1440 resistance area held on the H1 timeframe
  • Market moved sharply down after the Fed rate bump announcement
  • 1390 level is a short term battle zone during this Asian session
Looks like there's decent risk-reward opportunities on both the long and short side of things:
  • Can lean on 1365 to know if you're long and Wrong
  • Can use the 1390 level to know if you're bearish and gonna go bust

Check out the chart below:




Christmas break coming up.  No need to get too active nowadays.

Monday, December 17, 2018

Forex and Stock Trading Prep - Monday December 17th

DISCLAIMER: The information presented here is for informational purposes only. These are not trade recommendations. Please follow your own trading plan. Trading is extremely risky and you may experience substantial losses.

Here's some highlights from my regular review of the Forex and stock markets.  I do a review of all markets I follow each evening to help prepare for upcoming trades.

The stock market's been pretty volatile last little bit. Caution is the approach for now.

XAUUSD (Gold)

Haven't seen anything interesting in gold for a bit.  However, just noticed that:


  • Market has climbed back to the previous resistance area ~1249 from December 11th
  • Could be an area to see if a WTF pattern forms for a flip short
  • Alternatively a breakout retest would be ok as well


USDJPY

Must admit I've been neglecting this pair a bit.

  • The 112.20 - 112.40 zone was previous support
  • Let's see if trading opportunities come up in this zone


Nothing much else that is interesting.  It's heading into Christmas so the next few weeks likely quiet.

Sunday, December 16, 2018

Forex Trading - Losing is Winning!

Losing trades are a natural part of any trading plan.  I need to remind myself of this when I am in a trade or immediately after exiting a trade.

Why did the transaction not work?

Was there something I missed in the analysis or preparation?

The truth is a losing trade (if trading properly according to my plan) is simply just a losing trade.  I've had them before and will have them again.

In the scenarios above I'm sure I would have very different feelings after the 4th trade.