What seems to be a ping-pong match on the Daily chart is Gbp/Cad’s recent price movement.
That pair is in an obvious up trend and has now rejected a level that has not been visited since 2009. A key support level back then.
Todays closing completed a 2BR, suggesting a reversal also visible on the 4hr chart. Eventhough there seem to be no traffic at all and a dip lower might be very likely, I probably won’t short this pair now and rather wait for a pullback to position myself with the trend. It is a much smarter play in my oppinion.
Thanks for reading, as always looking forward for peers input.
Cheers.
I see strong support a bit lower. Am I being too picky with my S/R lines and perhaps not recognizing A+ opportunities, thinking they’re in no mans land?
Your support is not bad at all, 1.6500 is VBRN so it makes more sense.
Let me reassure you nsinner there is nothing wrong with being picky.
Don’t pay attention to who takes what setup, if you insist to only take the very very obvious trades then you will be much wealthier!
I would like to add that shorting from here would be Counter Trading.
Hi everyone)Everyone can answer this question but it will be more good if seniors like Jonathan and dudest answer this question.
In many of Jonathan,s articles he said that we should only trade the intra day charts like 4H,8H and 12H from the daily levels.But many times we can,t see the minor retracements and pullbacks(S&R areas) on the daily charts but we can see them on smaller intra day time frames.So is it okay to mark those pull-back areas on intra day time frames and trade from those areas?In the past i did that and had success.Am i doing right?Or i am doing wrong and developing bad trading habits which are not good for getting profitable in the long run?
Thanks
Secure Trading
This might work out quite well for you, all I am saying is that, and take it with a grain of salt, that it doesn’t fit any PA guidelines I have learned here.
I am trying to become more and more picky about my trades, maybe you have much more experience and feel confident about this setup
I personally have seen no good valid signals on the daily (only) in the last two weeks,have I been asleep ?,anyone else seen any good ones,this would be good info for all of us ,to know if we’ve been missing things and need to up our game so to speak,have a good weekend all.
