Forex Trader

I am and let me show you why and how!? It was realy easy trade based on my expectation which I wrote in my ‘RBA Monetary Policy Statement’ article. This was trade in combination of the fundaments and technical analysis, what I like the most. As I wrote in my article, RBA cut cash rate on Tuesday to 1.75% and that was enough for me to expect dovish statement and lower forecast for the core inflation data in this year. That’s exactly happened and the RBA lower the forecats from 2-3% to 1-2% for this year. But, it was not not only a fundamental trade, but technical as well as you can see in my charts. Resistance at 0.7475 was the place where I have openend my short and protect the same near the entry. Despite that my target was lower and I was expected maybe a little bigger move down, I closed my postion after the first minnor support with 77 pips gain.

Nice, but why I am showing this trade to you, it’s not something spectacular!? Well, this is mostly for the beginners to see, that the trading decisions at most of the time must be made from several reasons, not only from one point of view. Technical analysis is not the only ‘weapon’ what you must use to have a great trades. “You must combine all the market factors in order to achive a great results,  patiently, in a right time and with low risk.” Good technical analysis doesn’t mean anything if you don’t know how and when to use the same for a great trade. Happy pips hunting! 😉