Took some bad trades on Thursday in the Aussie & Euro thus reducing return for the week - both were shorts but entered at the wrong time, as price later came back to my entry and would have been profitable. I am grateful that the week was still profitable with a 1.45% return and cumulative for the month 17.49% but compared to last week when return for the week was 12.80% and cumulative for the month 16.05%, we did not do well. Demo account result was however good as these trades were not taken on the demo account. Next week promises to be better but trading will definitely slow down as traders close their books for the year.
I have some potentially good trades I am watching for next week; and the Loonie is one of them - check the H1 & H4 charts and you will find price bouncing at the 61.8FR level. The H4 SMI is at extreme OS level, while the H1 SMI moved slightly above the mid level without corresponding move in price, pointing to possible retest of previous low and I will be ready to buy on failure.
The Aussie & Kiwi also paint a similar but reverse pattern to the above. I am watching to sell a failed retest of previous highs.
Merry Christmas to all, and a prosperous New Year in advance.
DISCLAIMER
Please read the disclaimer on the home page
I have some potentially good trades I am watching for next week; and the Loonie is one of them - check the H1 & H4 charts and you will find price bouncing at the 61.8FR level. The H4 SMI is at extreme OS level, while the H1 SMI moved slightly above the mid level without corresponding move in price, pointing to possible retest of previous low and I will be ready to buy on failure.
The Aussie & Kiwi also paint a similar but reverse pattern to the above. I am watching to sell a failed retest of previous highs.
Merry Christmas to all, and a prosperous New Year in advance.
DISCLAIMER
Please read the disclaimer on the home page
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