On 7 February, with the invaluable help of one of my co-workers, Hannah, I analysed Eur-Gbp (https://tradingwithdavid.com/en/euro-and-british-pound-what-has-emerged-from-the-meetings/). With the currency pair at 0.84425, I had given as targets in order: 0.85100, area 0.85950/0.86300 and in the following weeks/months, 0.87200, 0.88200, area 0.89050/0.89450, area 0.89950/0.90350 and final target 0.92000.
As you can see below, today during the Tokyo session the target was reached.
I do not write this post to incense myself, I too close trades at a loss like everyone else. The purpose is to explain once again the importance of doing a correct and complete analysis of the market you are going to trade. Seven and a half months have passed since my analysis; that is a long time and in seven and a half months many things can happen that can turn the tables.
The situation will not always remain the same or get stronger as in this case. There will be times that interventions will occur and that will change the conclusions of the analysis. But this is the right way to work. Only then you will have the odds on your side.
It is not an indicator that tells you what a market will do, it is not a technical analysis. I do not know anyone who earns regularly this way. Instead, you have to understand the dynamics and make an analysis that takes into account the real forces that move the markets. That is trading, if you are not willing to toil, give up. Before you press the buy or sell button there is a lot of work behind it.
On 7 February, with the invaluable help of one of my co-workers, Hannah, with the currency pair at 0.84425, I analysed Eur-Gbp. Today, during the Tokyo session, the target was reached