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Video: This Method Makes Your Trading Peaceful (Plus: Reviewing this Week’s Trades)

End of the Week Analysis of the high probability opportunities for this week in Forex, Indices & Commodities.

Click on the video to watch the full breakdown

The USD-heavy news (Fed Funds Rate & FOMC release) this week delivered on its (theoretical) promise of injecting some heat into the markets, by creating volatility. But… It did not play out as expected on the Major pairs, because the Dollar didn’t give us higher prices and instead continued to drop.

The market will continue to surprise you, eh..?

No matter, we had other markets to watch, and those did deliver.

Here’s the weekly summary:

  • EUR/USD – market didn’t produce what was anticipated: No trade
  • GBP/CAD – market didn’t produce what was anticipated: No trade
  • WTI Crude Oil – market didn’t produce what was anticipated: No trade
  • AUD/CAD – currently floating at breakeven
  • AUD/NZD – currently in profit, holding until higher timeframe target: Winning trade
  • SP500 – successfully planned, taken: Winning trade
  • Gold – market didn’t produce what was anticipated: No trade

Overall Results:

3 trades: 2 Winners, 1 Breakeven (floating, at this time of writing)

So what’s been the major lesson, you ask?

Answer: Don’t Marry Your Biases

Regardless of how certain the result seems to be, it never is. There must always, always, always remain the possibility for another situation to play out. Prepare that way. You could say to yourself:

“Yes, I favour this particular scenario to happen. But if it doesn’t play out and instead this market does X or Y, I will do A and B next. Or, I won’t do anything at all and re-assess later.”

The market is cold and heartless; it takes no prisoners.

That means, prepare multiple scenarios. A more mechanical approach. Then, sit back and watch what actually happens (not what you think will happen).

If you trade this way, your trading will be a lot more peaceful. Try it.

Example #1 – EUR/USD

Before the market broke structure, we had A and B and C planned in advance. It is looking more likely that A is the one, but still, nothing is yet clear, is it? Clearly, no action to be taken here, except for continuing to observe price action.

Example #2 – Gold

Again, same as above. No less than 4 scenarios here. And guess what, the market produced a 5th situation… No stress, just hurry up and wait 🙂

Watch the video for more on this week’s explanation of market movements.

In this video we go over these opportunities for the week:

  • EUR/USD
  • GBP/CAD
  • WTI Crude Oil
  • AUD/CAD
  • AUD/NZD
  • SP500
  • Gold

Written by: Dima Mihailovich, Technical Analyst for Forex Prop News

Contact and follow Dima on Twitter: @dimafpn

(Please note: All comments made in this video and article are not trading or investment advice and are for education purposes only. You are responsible for your own decisions and the risk that goes with it.)

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