I took a bit of a break again last week, this time it was for my birthday. April tends to be a busy month for me so I do not get much trading done. However, I am back for two weeks before I set off to Belgium in early May. I will still be posting and doing my analysis while in Belgium though.
So, let’s dig in to this weeks analysis and see what has changed.
I hope you all enjoyed your Easter break. This year, I decided to extend my Easter holiday by a day; so, I’m only getting back to trading today.
Honestly, I haven’t really looked at the charts much this week, so I’m not sure if there’s been any trades yet. A few people in the forum entered a GBP/USD trade on Monday, however, things have been pretty quiet since. This is normal though, my strategy doesn’t give us many trades until Wednesday and Thursday.
We have had a mixed week so far, some good trades, some bad trades, but nothing terribly exciting. However, the week is still young, things don’t often take off until Wednesday and Thursday with my strategy.
So, should we be gearing up for an awesome Thursday? Probably not…
… This Thursday might be boring as it is NFP (Non-Farm Employment Change) week, price action can be sluggish on NFP week.
I have had a busy few weeks with the recent webinar on support and resistance. Now that things have quieted down I can get back to doing the weekly analysis. First, let me explain how this analysis works.
Support and Resistance Areas
I use my own support and resistance areas along with some very specific candle patterns to take awesome reversal trade…
First off, I want to say a quick sorry for not answering last week’s questions in the comments’ section and for not posting about the webinar. I ended up being really busy last week so I was not able to post.
The webinar I originally planned for Monday, March 2nd will be on Thursday, March 5th. I will post details about the webinar tomorrow.
Usually I resume my Forex trading in early January. This year things have gone a little different. The first week of the year Jan 5 to Jan 9 was very dull. The second week of the year Jan 12 to Jan 16 was too chaotic.
So, what did I do?
I waited until this week to start trading again.
A lot of new traders feel like they need to trade at all times.