This is the trading idea that I tweeted during early Tuesday Asian morning. I am looking at short opportunity. $EURCAD failed to go through 1.35, which is also previous week’s high. It appears to me that price is struggling around this area. Well, let’s see. You know, I can be very wrong, sometimes. :-). Anyway, should EURCAD start to fall, I am looking at 1.34 level as first target.
Here is the CHART!
This is a short trading lesson from Bella (@smbcapital), the author of One Good Trade: Inside the Highly Competitive World of Proprietary Trading (Wiley Trading)
(I highly recommend the book). Trading is a skill. “The answer is, you develop your trading skill day by day”. Excellent point. Watch this after you have summarized your trading week.
I was thinking about shorting EURUSD yesterday at 1.3 level, and in fact, I did. I closed the position with some small gain. Had another look at EURUSD, We have a pennant formed at the top, broke out, and now we are back to the back of the trend line. Now it got me interested in short term long of EURUSD. I am still thinking. Well, this is another idea.
Anyway, I am looking at near 1.31 area as next resistance level.
Here is the Chart!
So now we are in the vicinity of 161.8%, and the last valid D of Bearish butterfly. Kiwi touched 0.7345 during Monday London session. We shall see if the pattern is to hold or invalidated soon. Short stop is above 0.7350
Here is the updated Chart, the Butterfly.
It is harmonic time again! 🙂
A Bearish Butterfly is found to be ‘secretly forming in hourly chart of EURJPY. And we are now at 1.618% extension level. Let’s see how it works out later.
Here is the… Butterfly!
This is the chart that caught my eyes this morning. CADJPY is back to the resistance zone again. Let’s see how it will play out.
Here is the.. CHART!
Trade Well.
