EURSEK Happy To Travel Sideways....

Good evening ladies and gentlemen

The weather was not the greatest over the weekend but I hope that didn't stop you from having an outstanding weekend. There is no point applying yourself as hard as you do without rewarding yourself for your efforts!! That's what the weekends are for!

So straight to the EURSEK and we can see that price has not really done a lot over the last 3 weeks. It has continued to remain range bound with bullish action today. Price is currently being held back by a R Line. It is here where patience and psychology plays a big part as a SM trader. Oscillations are all part of market movement and we simply accept that without second guessing what the market will do next. We do have the confluences that aided our decision to take this trade still in our favour. All we can now do is wait to see if price does break out in our favour. If not we have the safety of our stop loss in play which does allow for a certain amount of negative movement before taking us out. If that happens we accept that without fear and wait for the next SM set up.

Below I have the 4 hour chart and we can see that Stochastics is showing OB with the signal lines crossing over. I will leave you to look at the other indicators.

(I still seem to be having problems loading up images. I apologise for this and will try to get this sorted out as soon as possible. In the mean time please check your own trading platform.)

The quote for today has some real weight behind it "Man is asked to make of himself what he is supposed to become to fulfill his destiny." It is by the Protestant Theologian Paul Tillich. Regardless of religious background, this should strike a chord with all of us.

Total Abundance is our Birth Right

Zaheer Anwari