Season of Change
ที่อัปเดต:
Just because the price action hit the bearish trend line and pull back does not necessarily
mean the price is heading south.
If you observe closely, there is a Cup and Handle pattern formed now in EURGBP. Once the price action breaks out of the neckline at 0.85619, then it will charge higher towards 0.865.
Alternatively, if the price action does follow the right handle channel and continue to head south, there are a few levels of support as indicated in the chart that it can revisit.
Ah, by now, you would notice that EURUSD, USDCHF & USDCAD and now EURGBP are now facing a dilemma. In situation like this, it may be wise to sit back and see how the price action plays out in the coming days. We are about a week to go before saying good bye to 2019.
If you put a gun at my head and make me take a trade, I will bet that it will breakout of the bearish trend and go higher. Under no circumstances, imo, should a trader be put in such a situation and succumb to pressure like this.
As trend followers, we follow the market direction not dictate how it should go. The moment you think you are in control of the Market, you are in for a big surprise. I ain't the institutional player or some big boys that can shift funds to move to the market. Just be happy to tag along and make some daily bread out of their movement, haha.
James 5:7 ESV /
Be patient, therefore, brothers, until the coming of the Lord. See how the farmer waits for the precious fruit of the earth, being patient about it, until it receives the early and the late rains.
mean the price is heading south.
If you observe closely, there is a Cup and Handle pattern formed now in EURGBP. Once the price action breaks out of the neckline at 0.85619, then it will charge higher towards 0.865.
Alternatively, if the price action does follow the right handle channel and continue to head south, there are a few levels of support as indicated in the chart that it can revisit.
Ah, by now, you would notice that EURUSD, USDCHF & USDCAD and now EURGBP are now facing a dilemma. In situation like this, it may be wise to sit back and see how the price action plays out in the coming days. We are about a week to go before saying good bye to 2019.
If you put a gun at my head and make me take a trade, I will bet that it will breakout of the bearish trend and go higher. Under no circumstances, imo, should a trader be put in such a situation and succumb to pressure like this.
As trend followers, we follow the market direction not dictate how it should go. The moment you think you are in control of the Market, you are in for a big surprise. I ain't the institutional player or some big boys that can shift funds to move to the market. Just be happy to tag along and make some daily bread out of their movement, haha.
James 5:7 ESV /
Be patient, therefore, brothers, until the coming of the Lord. See how the farmer waits for the precious fruit of the earth, being patient about it, until it receives the early and the late rains.
บันทึก
praise Lord.we have initiated a buy position at 0.85192.
บันทึก
sorry folks, we are out of this position and have turn short as the bearish engulfing candle has penetrated back into the bearish trend line.บันทึก
Praise Lord. I have learnt that just because the price broke out from the bearish trend line, it does not mean it has to move up immediately. Like this chart, it recedes further south but still above the bearish trend line. And on 31 Dec 19 and 02 Jan 20, it confused the traders with a in and out of the trend line. While the red candles seems to have a shorter body now, meaning less selling pressure, it is not totally out of the wood yet. Let's wait a while, observe and study the pattern first. Remember, nobody remembers you for catching the bottom but rather how much you made on the trade whether it is in the middle or at the top. Some caught it at the bottom but lacked patience to hold and eventually sold off to chase another pair.
Like dating, you want your date to give you more positive signals that she likes you. Evidence - agreed to go out for drinks with you initially then proceeding to a meal maybe or a movie. If she invites you to her house, another positive sign. Then, after some time, she feels comfortable to invite you to meet her parents (strong confirmation). Same as trading, you want this kind of strong evidence that the trend is in place and not half bake, neither here nor there, tempting you at one moment and disappointing you at the next corner. How frustrating, isn't it ?
บันทึก
accumulate on buy
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