AUD/NZD - 29/10/2020Yesterdays analysis played out as expected however, I failed to be triggered into the trade. To be a good and consistent trader you must remain 100% transparent in your approach. It's easy to let emotions slip when trades are missed or when losses happen. We need to remember we play a game of probabilities and percentages.
Was my analysis correct? Yes, it was.
Did I get triggered into the trade? No, but I know off back testing that majority of the time price will always come back to retest and we must stick on the side where the highest probabilities are showing.
Have a fantastic week traders!
Thursday
USDJPY: Bullish Trap Whats up everyone?
This is a quick update about my trade from yesterday.
We are looking at the USDJPY pair on the 4h timeframe. We saw a massive bullish trap on yesterdays trading close.
We are short from the top, where the trap happened. Our first position also was stopped out.
Price did break old highs within an hour although no news were happening.
Came back all the way down and obviously even lower within a short time period.
Imagine how much stops and orders were laying above those highs. Imagine how much money was made...
Wishing you guys nice trades and a great weekend!
VIX Spikes (Normal Spikes with Decay harmonic) VS NowA 2008 style VIX superspike is currently building into this market, It has not finished it's double top.
This is the same VIX analysis except the spike to the left is described in it's normal Double-Top with a 1,2,3 decay harmonic.
50/80 Double top can be realistically expected shortly ..
With it 1500 point drop in the DJIA could easily be expected.. And VERY shortly in 1-5 trading days..
Gold: Reaching For New Highs Hey guys,
just wanted to give you an update about a nice trade we took last week. We took a buy on the first correction at the 0.61 fibonacci level as price formed a bottom from the last bearish move. A weak bearish trend line was broken and price respects last price zones (marked in grey boxes) on its way up. We are currently up +170 pips on this trade, looking for the whole swing back up or at least a bigger correction. As always we will keep you updated.