Trading Video: Looking Back at My Top Forecasted 2014 Trades
•Both proved profitable thanks to sound technical, fundamental and conditions analysis
•These pairs still have great trade potential, but they need further support or are superseded
Read more about my favorite trades for next year in the Top 2015 Trade Opportunities report.
After we book a trade, we shouldn't abandon the pair and frantically seek out its replacement on our books. A review of our closed positions - whether profitable or losses - can help our trading moving forward. What's more, the same currency / pair / market can sometimes offer another trade setup soon after the previous one is booked with only a few developments. With that in mind, I review my Top 2014 Opportunities (long AUDNZD and long USDCHF) to evaluate the setups and to determine whether they still offer trade potential going forward. For AUDNZD, the potential is tremendous; but there is a critical fundamental stipulation that needs to be met before I jump back in. Meanwhile, USDCHF looks like it has serious long-term trade potential heading into 2015; but its components - EURUSD and EURCHF, which are my top 2015 trades - may offer more direct opportunity. I look over these setups in the today's Trading Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.