ForexGoldenBoy

ForexGoldenBoy

1- Directional bias This is when you have a very clear idea of where the market is going before you have even done any objective analysis. This is detrimental because it removes any form of rationality and your ego could prevent you from avoiding losses that are hanging over your head. 2- The lure of gain Sometimes for various reasons, as a trader, you...

ForexGoldenBoy

The pullback is still awaiting confirmation, but until it is invalidated, sellers remain the dominant force in the market. If nothing changes, prices could go back down to validate the pullback and then continue towards parity through one of the two channels visible on the chart. To be continued...

ForexGoldenBoy

The pullback was successful, prices are now in a bearish channel and have just broken their last low. This is good news as pullbacks are often the final step in confirming a new trend. The odds are now strongly in favor of the bearish scenario.

ForexGoldenBoy

Prices have broken through an upside resistance... But not the right one! And fortunately for the sell-side scenario, since this is how, despite everything, so far the trend is still down. The broken resistance was traced on the closing prices of the candles. The second one on which the scenario is now based, was drawn on the candlestick wicks. And that changes...

ForexGoldenBoy

Buyers have been stymied by resistance identified in the previous analysis. Now that prices are below their last low, the situation seems difficult to reverse and the intermediate target is now only a few pips away. Prices should then head a little lower towards the initial target...

ForexGoldenBoy

1. Are you sufficiently trained in trading? If so, in the different aspects of your trading, you are in your element 2. In your chosen market, has your opportunity-finding methodology already proven itself? If so, you are satisfied with your current success rate. 3. Does your money management really protect you against capital loss? If so, your trading is...

ForexGoldenBoy

On the pair prices are also forming an ascending wedge. Rising wedge are market reversal patterns This tends to push the bearish scenario of the previous analysis. The pattern that the market could resume its bearish trend This is a pattern where it is easy to identify the exit target. For the EURUSD, this target is somewhere on the parallel line at the bottom...

ForexGoldenBoy

As usual, the pair has bounced off the lower bound of the rising wedge. However, this time the bullish rebound seems more difficult than usual. Especially since an upside resistance may have formed in the meantime. This is a good sign for sellers, confirmation below 0.6608...

ForexGoldenBoy

In the short term, yesterday's breakout is today followed by a pullback that has just sent prices right back to their bearish support. Given the pair's strong downtrend, it is legitimate to expect prices to bounce back down. Unless there is a clear reversal in the pair, so far the scenario remains logically bearish.

ForexGoldenBoy

Prices are moving along a downtrend line So the scenario is bearish. The last rebound went well and prices are already more than 3/4 of the way to their theoretical target. But a bullish retracement has interrupted the decline. If the analysis is confirmed, the current price level will be an opportunity for a bearish rebound that will restart the decline. In the...

ForexGoldenBoy

1- Focus on the process: Trading is like a boxing match. Unless there is a knockout, 1 round cannot determine the outcome of the fight. In trading it's the same, you must avoid at all costs the margin call, which is the technical knockout of the market. It happens when your capital decreases so much that your broker, the referee on the markets, decides to stop...

ForexGoldenBoy

Act 2 just ended as expected All that remains is to validate Act 3: The pullback. Let's be clear, pullbacks are not an obligation, so prices could well go straight to parity. Nevertheless, it is always a good thing to be prepared, because pullbacks are often the occasion of a retracement that on a bad day can turn into a market reversal that could ruin the...

ForexGoldenBoy

We are now in a range More precisely on the upper bound of this range As expected, sellers are taking over. Prices are visibly going down, which seems to be the expected signal. The market is perhaps mature for selling, which is rather logical since in a range, once on the upper boundary prices move back to the lower one. The logical target for this pattern is...

ForexGoldenBoy

This pair shows the importance of timing in trading But, so far , as expected, it gives once again reason to the seller However, the rising wedge (bearish reversal pattern) that accompanies the price also tends to push this hypothesis in the right direction. So in the absence of new elements the trend remains fundamentally bearish on the pair. In the hope that...

ForexGoldenBoy

The bearish scenario is indeed the scenario of the moment. So far the previous analysis is correct. Prices are down and have just broken below their last low. The markets seem to be in the sellers' camp If nothing changes between now and then, see you at 159.42...

ForexGoldenBoy

1. By anticipation: You guess the imminent start of a trend and you decide to enter a position without waiting for a confirmation signal. For your portfolio, this is a highly profitable approach when it works but ultra destructive if it fails. It goes without saying that you will need nerves of steel because before you are right, the time may seem long, very...

ForexGoldenBoy

Prices have finally managed to break through the selling resistance. Once again, this suggests the resumption of the downtrend To be continued...

ForexGoldenBoy

The pullback is still not invalidated without being validated. It has just entered its second phase (back to its last high), which allows us to draw a first uptrend line. At this stage, the bullish scenario remains the default scenario Until now, the previous analysis remains valid while waiting for new elements.