Despite going 0 for 2 (with 1 breakeven) in my swing trading today, I was able to nail both of the trades taken during Tuesday’s Live Trading Room session. It also just so happened that both of the trades taken were on the same pair and occurred right after each other. This doesn’t happen on a regular basis, but often enough for me to understand exactly how to...
We've had a hell of a ride as of late on the AUDCAD. Through some difficult pattern trading weeks this pair has been the one keeping my head above water. We now have yet another Cypher pattern that just completed minutes ago. In all honestly, I'm fully expecting a loser on this one. Why? Well it's just the numbers. Even with the Cypher having a completion rate...
THE CLASSIC PSYCHOLOGY OF A MARKET CYCLE. WE SEE THESE EMOTIONS THROUGH RETAIL INVESTORS WORLDWIDE. MAKE SURE YOU HAVE 20/20 HINDSIGHT ON GOLD BEFORE YOU GET CAUGHT IN THE HERD. REMEMBER, NO BIAS. @YUNGFINANCE
Bearish Bat @ USDJPY Last bat @ USDJPY was a looser. Here is where psychology comes into play, you must continue to follow the trade plan even if the last 10 trades were losers. Does this mean that this trade will be a winner? I have no idea. All I know is that I will keep executing my trade plan no matter what is the outcome I get. I will do some videos on...
This is a side note continuation about "XABCD Should Extend The Trend!" subject. This is my real life experience of buying a physical gold (coins, not much quantities, it was my first time doing that). Using my technical analysis for the reason to buy. In 2013 I bough some gold almost exactly at the time this small Gartley was finished forming (little pointer...
This is continuation of my mini series about "When not to draw XABCD lines" It should be named part 2. "Picture is worth thousand words" Not any picture, if there is a picture about how XABCD works then its not worth so much. Almost every book will tell you that it works, but almost none will tell you when it doesn't work. For me I like to just deduce, not...
This mini chart is about how not to measure XABCD formations. The simple basic approach is to remember that BC is the biggest correction, is a mnemotechnic way to remember it. If there is another bigger correction like EC you should not classify pattern as an XABCD or you should draw pattern differently using bigger correction as a BC leg. In this chart we can...
Its just funny to me that often people just read the book about harmonics, Elliott, etc. and believe it, not taking serious steps to just question the authority and doing their own research on real market charts. Why do people believe this concepts so strongly? They just believe because they believe that if they believe then everything will be OK. That is what...
On Daily chart it is is in uptrend since July 2013. After big, ignited, red candle on 20th of March it entered into range-bound market and bounced up well off major trend line. Till now it built series of lower high and higher lows (wedge) and gave opportunities to trade both sides (selling from wedge highs and buying support). On Friday when US job report was...