Aggressive Fight Back By EURCAD!

Good afternoon ladies and gentlemen

It has been a rather busier week than usual for me hence no updates until today! I hope it's been a good one so far!

Let's get straight to it then and see how the EURCAD has been behaving up to now! Below I have the 4 hour chart and we can see there has been some aggressive day trading going on with traders buying, hence the huge green bar! Price is in some what of an oscillation at the moment with price now sitting at a S turned R line. With clever management, you should find yourself still in this trade although a large chunk of your profits may have been wiped out today! However, being trend traders we know that the market never just drops and this may be a retracement before further moves short! That is my prefered choice. This is where discipline comes in. Emotions will tell you to close of your position and cut your losses. Your Trading Plan and a mechanical approach will tell you to ride out this period and wait for the market to unfold, most probably in our favour, that is the direction of the trend!

Looking at the other indicators, we still have the VI heading down and price is now doing a DT in a downtrend! Stochastics is still showing a fake signal! I will leave you to look at your own personal indicators of choice!



I will leave you with this thought "Winning starts with beginning!"

Total abundance is our Birth Right!

Zaheer Anwari