Week 46 EURJPY Post Analysis

(Technical analysis done by Eric Lye in our Forex Trading Blog.  The purpose is to share how we analyze the market using price action and put ourselves on the side of higher probability of things happening.)

I always encourage my students when we are not trading well, having misreads, or miss trades.  Instead of giving up for the day, for the week, might as well put the time into productive activity like doing post analysis.

The purpose is to ask yourself if given a second chance how would I trade this.  This will help you to improve your recognition ability and reinforce your thought processes so that next time when similar pattern occurs, you have a better chance of catching it.

Forex trading is not necessary only for the faint heart.  You don't have to be fast, but you definitely need to plan.