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Why I didn’t trade last week


Nov.26.2013

Would you trade to prove you were right? Many brokers encourage you to keep on trading until you win big. That is because they make money every time you trade. However, this is not how Invest Diva graduates operate. If you are already enrolled in our education course, you would know that you should avoid placing an order if the market doesn’t fulfill the Invest Diva Diamond Analysis 100%. If you are wondering what I'm talking about, use your Thanksgiving holiday wisely and enroll in our Premium membership to learn all the secrets of currency trading in less than five hours.

Last week we talked about different scenarios and trading strategies for US dollar vs. Canadian dollar. On Wednesday, we didn’t see the confirmations that we were looking for in either direction, and the Ichimoku lines were still in consolidation mode. I didn’t find enough evidence for my analysis and as a responsible trader, I let go of my ego and avoided the trade. On Thursday though, we saw an upward jump in the pair and Friday’s market movement confirmed our uptrend scenario. But I didn’t want to enter a trade on a Friday evening right before the market close because I wanted to avoid a Sunday evening open market surprise. Instead, I waited until Sunday evening EST, re-checked with all points of the Invest Diva Diamond Analysis, and entered a buy position at 1.05221 where the pair confirmed above the triangle and broke above the 0 level fibo. I set my limit order to take profit at a previous resistance level at 1.05678. Cha-ching!

USDCAD daily chart triangle fibonacci bullish engulfing technical analysis forex trading dollar nov 25


To learn more about responsible trading, enroll at the Invest Diva’s video education course today.

 

 

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