Spencer Li

Forex Trading | EUR/USD & USD/JPY – Reading the Price Behaviour

Here are the latest updates on the forex scene, with 2 great trading opportunities presented below. As you can see, these charts are rather blank, because this way it is optimised for reading price behavior and price action, with as little distractions as possible.

My next sharing session is coming up next week, and I have prepared a special surprise; I will be inviting one of my students to speak as well, and he will be able to share how he managed to build 3 streams of income like how I taught, to increase his financial stability and accumulate wealth more quickly.

The last 2 events were sold out pretty fast, and seats are limited, so please sign-up only if you are serious about coming to learn how to take advantage of the recent crash to build up your portfolio of passive income.
https://the-recent-big-crash.eventbrite.com/?ref=ecal

eurusd 260813This is the daily chart of the EUR/USD, with an obvious 2B reversal near a key resistance zone. Watch for a good chance to short if the next push fails. Whoever spots the chance, please share in the private forum so that we can all catch this together! (just in case I miss it)

usdjpy 260813 d1

 This is the daily chart of the USD/JPY. It is forming a clear triangle pattern, which is possibly a pennant on the weekly, hinting at a sign of strong upside breakout. Price is also compressed by the 2 key zones, building up additional pressure. A good breakout could come soon, so keep watching for the signal bar!

usdjpy 220813Behavioral analysis of Forex – How to trade forex with price

usdjpy screenshot 150813Some intraday forex trades using forex strategies

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Spencer Li

Intraday Forex Trading | AUD/USD – Shorting The Big Crash

When it comes to intraday trading, quite often the big move can comes from a single currency, and if we time our entry right, the risk can be very small while the profit potential remains large.

In this case, most traders using technical analysis will notice the obvious double top breakdown. However, it does not mean we can jump straight in with a short. Since we know that this is a type 4 range (this part is taught during our training program), we will wait patiently for a pullback before entering.

This enables us to keep risk small, making our intraday trading safe, as we will not see huge fluctuations in our P&L unlike gambling/punting, which lacks the consistency of daily recurring profits.

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audusd 210813 h1 2

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Spencer Li

Price Action Trading | Gold – Long-term View

The first chart we see with the huge complex descending triangle at the top is the weekly chart of Gold, which we were calling for shorts a couple of months ago.
https://synapsetrading.com/gold-our-big-short-trade-of-the-year/

From there, Gold plunged more than $400 (ahh… the ol’ good days of easy money shorting Gold), and subsequently staged a strong rebound of about $200. Based on the price action, we have enough clues to know that the big players will be looking for an opportunity to resume their selling, which could begin anytime they feel that prices have retraced sufficiently.

gold 190813 w1

Now we zoom in to the daily chart, and we noticed that Gold still looks pretty bullish, judging by the lack of any selling pressure… yet. I will be monitoring this closely so that I can find the perfect time to short Gold again. When the time is ripe, I will share with my students. Don’t forget to shore up your capital to get ready for this big short!

gold 190813 d1

For my event on Thursday, I noticed that out of the 70 sign-ups, a few were duplicates, and there might be some last minute cancellations, so after tidying up, there are 2-3 new slots open for grabs. First come first serve. https://www.eventbrite.sg/event/7760228051?ref=ecal 

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Spencer Li

Golf & Trading – The Mental Game

Recently, now that I am moving on into semi-retirement, I started learning golf as a new hobby, as this was a new skill I had always wanted to learn. Although I only had a few lessons so far, I was amazed at how similar the mental game and psychology aspect is to trading.

Firstly, besides the skills and technique, both require a calm and focused state of mind to make decisions and perfect the execution. Next, with more practice, you have to “forget” what you have learnt, and trust your instincts to execute a perfect shot, once you have a vision of it in your mind’s eye.

Just like trading, it will take effort and discipline, but the rewards are definitely worth it because I would have learnt a new lifelong skill. This is the same reason why many people have chosen to learn the real skills of trading, and turn away from gambling/punting penny stocks, because they have been burnt before, and now want to learn trading the right way, to make consistent daily profits in forex or invest in stocks.

Although it will be harder for them to unlearn the bad habits, it is better late then never, because even if you keep doing something wrong for many years, it is not experience, it is just foolishness, because you would have wasted your time. That is why when I decided to learn golf, I decided to engage a professional coach, instead of trying to pick it up from books or trying to figure out the game on my own.

 

Golf & Trading - The Mental Game


Golf & Trading - The Mental Game 2Justin Han (Professional Golfer)

Golf & Trading - The Mental Game 3


Golf & Trading - The Mental Game 4Computerised Swing Analysis

Golf & Trading - The Mental Game 5

Golf & Trading - The Mental Game 6

Golf & Trading - The Mental Game 7Made some trades while resting and sent out alerts

Golf & Trading - The Mental Game 8

Golf & Trading - The Mental Game 9
Golf & Trading - The Mental Game 9Doing some intraday forex trades to make my 35 daily pips

Golf & Trading - The Mental Game 10

Golf & Trading - The Mental Game 11

Overall, this was a great experience, and I am excited to embark on this journey to learn a new skill, while continuing to hone my trading skills and coach others who wish to trade the same way I do, imparting real trading skills and strategies for them to trade forex and invest in stocks. All the best, and have a great weekend!

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