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Looking back at last week, we saw a strong run-up in the EUR/USD. Initially, I was bearish, but I realised the path of least resistance was upwards, so I cut-and-reversed to go long, applying the reverse psychology setup. Next week, we will see if it can clear the resistance zone.
Gold has broke the major trendline, and based on behavioral analysis, the path of least resistance is currently to the downside. I have been short since Thursday as mentioned in the forum, and I have taken 1/2 profits and trailed the rest. Let’s see if it can go lower.
For those trading SGX stocks, here are some trade ideas for you to apply the 7 setups. Remember to apply the visual scans before taking action, and focus on getting an optimal entry point. Watch for the tipping point.