Here we have a successful victory on DXY. Im going for a positional trader so you see multiple colored key areas on the chart. Price was bearish coming to my broken monthly level. I wanted to see a bullish reversal once price touches it and it did. A morning star reversal pattern formed and broke above my weekly dashed line trendline. Additionally, I wanted to see...
Now I'm learning to love my failures with trading because with them I find knowledge, advancement, and growth. Here on the 2h chart I placed a buy trade in a sellers market!! How hurt but happy I was to see it fail. Now on my weekly analysis for this pair, I analyzed price being bearish for the week. Why did I go bullish? Well, the overall market for DXY is...
Truly, I wanted to see this trade fail!! Since all my other trades do, I was expected to lose..but what gave me Hope was when price broke the HL and retested with a good bearish setup. I decided that in order for me to learn how to trade was that I have to not be afraid to fail on any trade. It is with this failure that I am able to re-analyze my trade to...
-HERE WE GO AGAIN!
-I saw the pound dollar making LL/LH which indicates a Bearish Market (Sells).
-I saw a great key level which would be a great area for sells and I marked it Red. My idea was that whenever price came to this area that I would sell sell sell.
-Once price broke through my level with a Big Bearish candle and closed below, I knew that the sells were...
HELPFUL MARKET FLOW DIRECTION AND ANALYSIS:
-I have an issue with trying to stay with flow of the market and placing trades in the appropriate direction. I would always sell when I need to buy and vice versa and realized that I did not understand market structure!
-Finally I decided to keep my attention to the swing highs/lows to help stay with current directional...
