Spencer Li

Forex Trading | The End of the World? Well-timed Shorts for the EUR & GBP

Forex Trading | The End of the World

Overall, this was a rather good week, with the EUR and GBP trending strongly upwards in the early part of the week. On Thursday and Friday, I already saw the signs of a major pivotal point, signifying a high chance of prices turning down.

I waited patiently for the market to confirm my opinion before taking my short positions, and my patience was rewarded by the market. I am glad that my opinions were confirmed by the market, and the satisfaction of reaping the rewards of self-discipline is better than the rewards of profits. After trading for so long, the profits no longer excite me as they used to.

Next week, I expect the market to be less lively, and I will be taking a break for Christmas, and to review my trades for the past year. This year has been rather decent, and as long as a trader keeps following the rules and sticks to a winning methodology, the consistency of profits will naturally follow.

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Spencer Li

Commodities Trading | Gold – Catching the Bottom Again

Commodities Trading | Gold

Commodities Trading | Gold 2

This time, besides sharing in the private forum, I also shared this trade in some public forums, minutes after I caught the bottom in Gold at 1636. This kind of precision cannot be done using any software of indicators, because those are slow and it requires the human touch to pinpoint such delicate turning points. Only by observing the price action will one be able to time the entry accurately.

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Spencer Li

Singapore Stocks | Olam: Catching the Turn – Over 9% Profits in 3 Days!

Singapore Stocks | Olam

A simple follow-up for those who traded based on this previous post 4 days ago:
https://synapsetrading.com/the-week-before-christmas-parties-rallies/

Olam has shot up over 9% within 3 days. How did I know the selling pressure was exhausted and a big move was coming? This has to do with reading hidden volume clues and understanding the price action.

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Spencer Li

Forex Trading | Behavioral Analysis – Spotting the Turning Point

Behavioral Analysis

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.

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Spencer Li

Forex Trading | Revealed: Precision Price Projections for Taking Profit

Forex Trading | Revealed

Yesterday, I decided to close out my short positions on the EUR/USD, which on hindsight was a big mistake. I should have stuck with my original TP, and it would have rewarded me with an additional $4000.

Many people have asked me how I derived my TP of 1.3252, and I have decided to reveal one of my techniques for doing precise price projections. If you see the pink grid in the chart, I had that plotted even before the breakout, and if you observe the black sell arrow at the top, that is where price reached, almost to the precise pip. That’s how accurate it can be.

For today, the path of last resistance is still upwards, and I will be watching to either enter on higher timeframe pullbacks or in the opposite direction should I spot any reversal pivotal points.

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