Early this week (well, actually while making my watchlist this weekend), I spotted a very nice setup on the USDCHF 4H charts. It had all the characteristics of a solid reversal setup and I was waiting for for my entry criteria to be fulfilled:
As expected, $USDCHF 4H retraced back into previous support-turned-resistance, showing some rejection of this level. Waiting for a solid bearish signal to potentially short this one. #forex#tradingpic.twitter.com/BJqJVV3w5b
— Felix De Vliegher (@smartfxlearning) November 13, 2017
On Tuesday, we got our solid bearish signal! A massive bearish engulfing bar was printed, so once I saw this, I got in. I actually managed to get a slightly better entry than the close of this bearish engulfing candle, but the idea is the same.
For a long time, I have been interested in bitcoin. I’ve been playing around with it since 2013 and I fully believe that the whole cryptocurrency ecosystem is only getting started.
However, I’ve never featured anything related to cryptocurrencies on Smart Forex Learning! The biggest reason for this is that for a long time, I just saw them as a long-term investment holding, not something I’d actively trade. Nevertheless, I kept track of the price charts.
Interest in cryptocurrencies is growing and when I look at the bitcoin chart, it is starting to look like something I would trade. Cleaner charts, (relatively) less crazy spikes. It’s still not what you would call a quiet market, but a fast-moving market like this also provides us with opportunities.
As traders, we create and settle in trading routines. They help us with building good trading practices and let us focus on the process, rather than the outcome. Of course, this is a good thing but often, this also means that we use the same way to look at the charts. We look for the same patterns. We do the same thing over and over again in order to get the right results.
But what if you don’t get the results you want?
Of course, this can have a multitude of reasons: bad risk management, FOMO, no discipline, not cutting losses, etc. Or how about this: maybe the patterns you look for are just not working? Maybe you need a fresh way to look at charts.
By using a different point of view, you might be inspired to find new ways to gain an edge in the market and come out on top. In this article, I want to show 3 ways to flip things around and gain a different perspective on the markets.