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The number one goal-setting mistake traders make is setting goals related to money. Active traders will often tell me that they have a goal of making X-dollars a day or X-points a day. That’s just not a good way to structure a goal. Trading Goals Related to... read more
USDCHF: The pair declined further on Monday leaving risk lower in the new week. On the downside, support lies at the 0.9600 level. A turn below here will open the door for more weakness towards the 0.9550 level and then the 0.9500 level. Its daily RSI is bearish and... read more
Becoming frustrated challenges every trader. Trading psychology can help traders handle the many frustrations of trading. Feeling frustrated is just another way of saying that we don’t like what the market is offering us. When things don’t go our way,... read more
GOLD: With the commodity still trading below its key resistance we envisage a move lower in the new week. On the downside, support comes in at the 1,330.00 level where a break will turn attention to the 1,320.00 level. Further down, a cut through here will open the... read more
EURUSD: The pair saw price hesitation the past week but still faces corrective pullback risk. Support lies at the 1.1150 level. Further down, support lies at the 1.1100 level where a violation will aim at the 1.1050 level. A break of here will aim at the 1.1000 level.... read more
GBPUSD: The pair continues to target further weakness after closing lower the past week. It now targets it key support located at 1.2865 level. On the downside, support lies at the 1.2900 level where a break will turn attention to the 1.2865 level. Further down,... read more
Like traders, top athletes compete and practice their sport day after day. Like traders, top athletes have good days and not so good days. Here’s an insightful comment by an elite tennis player after winning an important match in which she didn’t feel 100%... read more
EURUSD: The pair rejected lower prices on Wednesday to close higher. This development leaves EURUSD faced with consolidation risk with upside bias. Support lies at the 1.1100 level. Further down, support lies at the 1.1050 level where a violation will aim at the... read more
It was a cause for celebration, though to the casual unaware observer there didn’t seem to be much to be happy about. But Saundra knew better. Yes, the trade was stopped out for a small loss and there had been a number of them. In the past Saundra would have all but... read more
GBPUSD: The pair looks to weaken further having continued to threaten more bear pressure. On the downside, support lies at the 1.2950 level where a break will turn attention to the 1.2900 level. Further down, support lies at the 1.2850 level. Below here will set the... read more
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