I’m back! Though it’s already the middle of the trading week, it’s better late than never. I haven’t fully recovered yet from my bouts of cold and flu, but I’m feeling better now. These are the times (in GMT +8) I’ll be watching for in the following days:
This is Part 2 of the 1st half of August recap–this is gonna be a long blog post. Most of my stop orders were entered on Tuesday morning (Aug 9) at the start of the AU session, while some were added like EURGBP trades since the initial TP was hit early. A few of the setups I did were hit while I was away, so the only screenshots I have for them were either in the middle of the trade or right after the TP/SL was hit. The basis of my trades was simply riding whatever trend was forming in various currency pairs the week after July 2016 US NFP report release last August 5–there weren’t any major news events on the 2nd week of August so I went “blind” so to speak, and simply focused on price action.
July had been a cool month despite only partly recovering from the NFP trading mistake I did. I learned a lot such as the following:
Image from Quickmeme.com
I’ve recently attended a very lively webinar by Market Traders Institute about how they use the fibonacci retracement tool in determining where the price is headed in the monthly chart and was pretty amazed by it. I know that tool is pretty basic stuff, but I only use it as a guide where the next mini-support and resistance levels might go aside from the daily and hourly zones (for more info about the green lines in my charts, check this book out).