This week I published two analyses, both were correct, but it took some time for NZDJPY to reach the target, contrary to AUDCAD which made it in two days.
NZDJPY D1 10-14.12.2018
In the analysis from Monday – “NZDJPY – possible further decreases, supported by divergence – 10/12/2018” I predicted declines. Based on the H1 chart I tried to predict how the next moves on this pair of currencies may look like. However, I underestimated the strength of demand and the price in the correction went above the planned Stop Loss level. However, finally, and it happened on Friday, the quotes turned back and broke the support of the channel heading south, fulfilling my predictions and confirming that divergences on D1 have “power”. Sticking to this strategy allowed me to earn 50p.
AUDCAD H4 12-14.12.2018
Wednesday, 12/12/18 – “AUDCAD – Divergence on D1 supports declines” As in the title, I did not see any other option like SELL. I wrote: “Currently divergence (MACD) is on D1, which prompts me to focus on next declines and once again the goal may be 0.9570 support level.” The course of quotations confirmed predictions very accurately. Unfortunately, I did not earn on this move, because I had other open orders open at that time and the 30: 1 leverage did not allow me to open more.
Looking at the results of this week, which brought losses on orders other than those analyzed, a simple conclusion arises: one has to play what is well analyzed and in line with the strategy, and not look for random “opportunities” that turn out to be lossy. Sometimes less is more.
I plan to make a webinar next week – “Enhancing your trading – how to select profitable setups”. If there will be at least 15 participants interested, we will make it next Saturday 22/12/2018 at 16:00 GMT. Details will be posted within few days in our Facebook group and comparic.com.
Join us in our new group for serious traders, get fresh analyses and educational stuff here: https://www.facebook.com/groups/328412937935363/