I’m sure that for most traders out there it is difficult to deal with a couple of losing trades in a row. I am no different.
Author: tradingsossos
AUDUSD broke recent resistance. See chart below for the discussion that follows.
EURCAD is currently close to support. See picture below for discussion.
In this post I will be covering the morning star and evening star candlestick patterns. Both are potent in identifying a potential reversal of price (current market trend). If you are new or need a refresher on candlesticks, you can start here.
One of the charts I like for this coming week is that of the EURJPY. See chart below for discussion that follows:
In this post I’m taking a look at AUDUSD for a possible long.
Last week I wrote that my plan was to go short EURGBP and long USDCHF depending on certain levels that must be reached and confirmation in terms of candlesticks. You can find the post from last week here.
In today’s post I’m looking the USDCHF which is in an uptrend and the EURGBP which is a downtrend.
When we first start out trading it’s all about finding that trading strategy that will give us daily / weekly / monthly positive returns, the holy grail in other words. It’s all about instant gratification and unrealistic expectations. This can cause us to take risky trades, being greedy and all the other problems that come with being a newbie trader. Slow and steady is a much better approach to trading in my experience. This post is about how trading with a long – term mindset can help traders improve their trading.
Last weekend I wrote about the USDCAD that made a lower low here. I suggest you read that post first before reading this one.