Forex Trading | Behavioral Analysis – Spotting the Turning Point

New: Join our 3-hour live workshop with Spencer to learn the basics of trading and make your first live trade!

Screen Shot 2012 12 20 At 1.04.21 AM1

As mentioned in my previous post, I stuck to my trading plan for the day, which was to stick with the trend until I spot the reversal pivotal points. I went long on the EUR/USD in the early part of the day, netting about $3,000. I got out a bit too early, as the price behaviour did not feel right.

I went for dinner and waited for the right moment until I could be certain of the reversal turning point, then I struck without hesitation. I shorted EUR/USD, EUR/JPY and GBP/JPY, making about $4,000 in less than 30 mins.

Since there was no more news for the day, I decided to call it an early night.

Note to Mentoring Program Graduates:
Whether you are trading forex or stocks, the setups are almost the same. I tend to post more forex setups because they occur more frequently on an intraday basis, while stocks tend to move slower. Study the forex chart setups I post in the forum to get a better understanding of how to identify them on the stock charts.

Banner 01 Trading Foundation Workshop New to Trading? Make your first live trade today in this workshop! Meet Spencer live for 2.5 hours of hands-on training! No prior experience required! Learn all the basics of trading, and step-by-step guidance to make your first trade!

Daily Trading Signals Banner Updated If you're looking for the best trading opportunities every day across various markets, and don't want to spend hours doing the research yourself, check out our private Telegram channel!
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *