Tag: USDNOK

Here are a few trade ideas

Pound Dollar

Hey trader, how is your trading going so far this week?

I’ve seen the market started to move in a few currency pairs, in some others the market has been pretty slow.

So I guess it’s all about choosing the right currency pairs to trade.

That’s the reason I encourage you to look and analyze a wide variety of currency pairs, or instruments. If for some reason you dont feel comfortable with any pair, you can always trade gold for instance, or oil, or indices or high volume stocks, etc.

But please, make sure you only trade the ones that have a clear market condition… the ones that you feel comfortable with, the ones that have clear S&R levels and clear swings.

If you focus on those, sooner or later, results will come. You just need to be patient and trade when the odds are in your favor.

That’s it, that’s what trading is all about: choosing the right instruments to trade, and trade them at the right time.

What do you say?

Ok, lets get to some charts…

EURUSD Analysis

The EURUSD has been trading in a very clear bearish condition, that means that it is likely to continue its way down…

EURGBP, EURUSD, forex, nzdjpy, signals, USDNOK

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Great opportunity in a currency pair you haven’t traded (yet)

Norway-Flag

You already know what my philosophy about trading is:

Trade the currency pairs that have the clearest market condition and the greatest profit potential.

One of the most costly mistakes novice traders make is to focus only in one or two currency pairs (included me of course).

Their reasoning is that they want to get to “know” that currency pairs…

But the thing about it is that sometimes currency pairs are not tradable, meaning that they dont have a clear market condition, and if it doesn’t have a clear market condition, we dont know what it it likely to do… And we’ll still force ourselves to take trades.

Put it this way, if there is a clear market condition, the market could still move against us… imagine what happens when we have absolutely no idea of what the market is likely to do?

You see where I’m getting at right?

analysis, forex, USDNOK

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