Entries by Spencer Li

Forex: EUR/USD – downtrend day

Today, it was an easy day to trade, since the trend was clearly down, and there was an excellent SPZ entry at around 2230, where price tested the EMA and trendline. The EMA was tested again at around midnight, providing another chance to short. I think the rest of the day is likely to be […]

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Forex: EUR/USD – descending triangle

Spent the night scalping the EUR/USD for a couple of hours, and the best trading opportunities were centred around the obvious descending triangle, which broke out strongly and went past the traditional target projection. The old problems in Europe are starting to surface again, putting pressure on the stock indices, as well as the EUR/USD. […]

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Hindsight Bias – When People Say “I Knew It All Along!”

Described in simple terms, hindsight bias is the impulse that insists: “I knew it all along!” Once an event has elapsed, people afflicted with hindsight bias tend to perceive that the event was predictable – even if it wasn’t. This behaviour is precipitated by the fact that actual outcomes are more readily grasped by people’s […]

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Forex – scalping the EUR/USD

NEW YORK (MarketWatch) — The euro on Monday tumbled to its lowest level versus the dollar since January and remained under pressure after European voters rejected pro-austerity candidates in weekend elections, calling into question the region’s control over its sovereign-debt crisis. This is the 5-min chart of the EUR/USD. After the large gap down in […]

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Private Trading Workshop | Guest Speaker at TRT (Traders Round Table)

Today, we gave an exclusive seminar to the members of TRT (Traders Round Table), where we focused more on trading psychology since the audience consisted of mostly experienced traders. We also had time to go through some candlestick patterns from a psychological perspective, and some examples to illustrate the limitations of candlesticks in price action […]

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