This lesson is about creating your own weekly market commentary. This practice involves analyzing your favorite markets at the end of each trading week and writing down your analysis. I mainly use the daily and weekly chart timeframes and check for support or resistance levels, the dominant market trend, and any price action signals.
The Benefits of Weekly Market Analysis
Performing weekly market analysis offers numerous benefits:
- Clarity and Confidence: This practice will enhance your understanding of the market’s dynamics, giving you clarity and confidence in your trading ability.
- Improved Trading Skills: Regularly applying your trading strategy through market analysis will improve your trading skills over time.
- Anticipatory Trading: My trading mentor often said that trading is a game of anticipation, not reaction. To succeed in trading, you need to anticipate what the market will do next, rather than react to price movements as they happen.
I have experienced these benefits in my own trading and encourage you to try it out for yourself.
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