TheFxAce

TheFxAce

The life of a trader often feels like a rollercoaster—full of challenges, triumphs, and personal growth. As I read The Hero’s Journey by Joseph Campbell, it struck me that trading follows a similar arc to the mythical journey of a hero. It’s a path of discovery, trials, and transformation, where the ultimate prize isn’t just financial success but...

TheFxAce

Trading isn’t just a skill—it’s a journey. Over the last 16 years, I’ve dedicated myself to mastering the markets, learning from both triumphs and setbacks. Along the way, these books have been invaluable companions, shaping my mindset, refining my strategies, and transforming my approach to trading. Here’s my curated list of the top 10 trading books I’ve...

04:34

TheFxAce

The Kiwi took a major hit in October, dropping sharply from the 0.638 resistance level, which has held strong for over two years. Looking at the weekly chart, we can see that the market has formed a clear range between 0.638 and 0.588—the lower level we’re now approaching. On the daily chart, the initial drop was intense, with strong selling momentum...

TheFxAce

I recently revisited "The Art of War by Sun Tzu", and I was struck by how directly its timeless wisdom applies to the world of trading. Written over 2,500 years ago, this classic on strategy offers lessons every trader—from beginners to seasoned pros—can apply in the markets to improve discipline, timing, and decision-making. The Art of War is often seen as a...

06:15

TheFxAce

USDJPY has been on a tear these past few weeks, charging toward some key higher timeframe resistance areas. Checking out the Monthly chart, I’m spotting what looks like a major trend reversal pattern. In July, USDJPY hit 162, and the resulting sell-off did two big things: it broke the long-term trendline and took out the last swing low from the previous leg up....

07:31

TheFxAce

In my last EURUSD trade post from August, we anticipated a strong sell-off from the 1.12 level (see related post). Price action has unfolded just as expected, with a sharp decline in recent weeks. So, what’s next? Looking at the charts, a short-term correction toward 1.09500 could be on the horizon. Let’s break down the charts. Starting with the Monthly...

TheFxAce

I’ve just finished reading Meditations by Marcus Aurelius, and I couldn’t help but notice how the timeless wisdom of a Roman emperor applies directly to the life of a trader. After 16 years in the markets, this book gave me fresh insights on discipline, resilience, and self-mastery—key elements that can make or break your trading success. Marcus Aurelius...

06:52

TheFxAce

USDCAD has surged in October, but multiple confluences suggest a short-term selling opportunity is emerging. Let's break down the charts. Starting with the weekly charts, we can see that USDCAD has been in a long-term range-bound market between 1.39 and 1.32, with price consistently respecting this range over the past two years. I've marked another key...

TheFxAce

You know the feeling. You place a trade, and instead of it taking off in your favor, it immediately starts slipping into the red. It happens almost every time, especially if you’re a swing trader. And for some, this drawdown can last for days, weeks, or even months. Whether you're a day trader dealing with quick losses, a swing trader battling long-term dips,...

TheFxAce

The big day has arrived: the first Fed rate cut. The burning question is, will it be 0.25% or 0.5%? In recent days, the markets have been leaning toward a 0.50% cut. Could this be the catalyst for a breakdown below the critical 100 level in the USDX? Let’s break down the charts and find out. Looking at the weekly charts, the 100 level has been a solid support...

TheFxAce

Are we about to see a double bottom reversal, or will price break down again? Going back to my idea posted in December 2023 (see related post), we had a great buying opportunity on the dip below 0.94, followed by a strong rally towards parity, falling just 80 pips short. That upward move ended in May, and since then, the price has broken down again, with last...

TheFxAce

You know that feeling when you stare at the charts, convinced you’re about to strike gold, only for the trade to go so wrong, you wonder if the market gods have a personal vendetta against you? Yeah, we’ve all been there. But here’s the thing—it's not the market that's out to get you. It’s you. Let’s cut to the chase: trading success isn’t just about...

TheFxAce

Ever Felt Like Your Worst Enemy in Trading? Here’s How to Overcome it! Have you ever been in that moment where you're staring at the screen, and every fiber of your being is screaming, "This trade is going south," but you still hold on? It’s like watching a train wreck in slow motion—except you’re the conductor, and somehow, you’re glued to your seat.What if...

TheFxAce

Is GBPUSD setting up for a massive reversal, or are we on the brink of one final explosive push above 1.31? We've seen quite a rally this month with GBPUSD, as it cleanly broke through the 1.30 level this week, climbing above 1.31 yesterday and hitting a 2023 high, which is now acting as resistance. So, what's next? At 1.313, we've reached last year’s high,...

TheFxAce

Is the EURUSD on the verge of a major breakout, or are we heading for another disappointing retreat? Once again, we’re sitting above the 1.10 zone, and the price has moved into the upper range territory. Since early 2023, EURUSD has been stuck in a weekly range between 1.05 and 1.104, with only one quick rally to 1.12 that was quickly faded. Are we finally...

TheFxAce

"Know Thyself.’ This ancient Greek wisdom has echoed through time, and over the years in the markets, I’ve realized it holds the key to trading success. But most traders learn this lesson the hard way, often after years of frustration, losses, and self-doubt. To become a successful trader, you must truly know yourself. The saying "know thyself," inscribed at...

TheFxAce Updated 

This pair is shaping up to be one of my favorite trade setups: the trendline break and retest of the level/zone that broke the trendline. Looking at the Monthly chart below, we’ve seen a significant downtrend for nearly two years that ended in February this year. At that time, I posted a buy setup, buying dips under 0.57 and targeting the 0.60 level as the first...

TheFxAce

Picture this: You’re at your trading desk, eyes on the charts, heart pounding as the market swings unpredictably. Do you feel that fear creeping in? Now, imagine knowing that this unpredictability doesn’t have to scare you. Instead, it can be the key to your success. Let's dive into why thinking in probabilities and staying calm in the face of uncertainty can...