A very good trading friend of mine has had a bad trading week, as we all have from time to time. He is one of the most competent traders that I know but was kicking himself for his bad results. When we have bad days or weeks, the best thing to do (in my opinion) is look back at the good trades to reaffirm your own abilities as a trader. After sharing this advice, I thought I'd have a look at some of my own trades, for this month - this one is a good example of simple price action trading.
AUDUSD, 8th Oct, had clear resistance around the 0.9482 level. On the 11th Oct, price made three attempts to break that level but there was obviously more supply than demand. I traded the pin bar on the 3rd attempt.
When resistance or support holds price for several attempts, you know that when it does break it should make for a good trade in the opposite direction. I don't trade at midnight but wish I'd been up for this one ...
22/2/2022 06:26:23 am
What an exquisite article! Your post is very helpful right now. Thank you for sharing this informative one.
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