The Bigger Picture
Good Morning Dynamic Traders!
Have you ever had an opportunity to study a painting or a photograph in some detail? Do you recall the thought patterns that triggered through your mind? Perhaps you were filled with joy or consumed with sadness?
If I asked you to re-examine the picture, but this time, from a different perspective and at a contrasting point in your life, would you experience the same sensations?
In fact, if you were to ask a colleague for an opinion on the same, what would you expect to hear?
You see, each of us is unique - and our individual perception of what we see, feel and hear at a particular point in our lives, is incomparable to that of another.
The same emotions apply to our trading patterns. The successful trader will have the ability to analyse a chart from different perspectives and with a neutral state of mind.
Below are two charts for the USDCAD; one is the weekly and the other is the 60 minute.
The weekly chart reveals to me that price is enjoying a vigorous uptrend. In fact, the candle is determined to break through the next resistance level at 1.27 and reach for the figure1.3.
MacD confirms the same.
"I see a clear long position."
USDCAD weekly chart Advanced Get
The 60 minute chart paints a contrasting picture. Price is flagging - it has created it's own resistance and appears to be losing upward momentum. It could be heading towards the trend line support. In fact, MacD confirms this to be the case.
"Is this a super shorting opportunity?"
USDCAD 60 minute chart Advanced Get
My personal trading style dictates that I assume a "long" position...... but when the time is right!
Having observed the chart from different perspectives, I believe I have made a balanced judgement, ensuring the probabilities are in my favour. I am also prepared to accept a small loss having employed rigid risk management techniques.
Finally, I can smile and enjoy the rest of my day!
Dynamic Traders, be certain to analyse your charts from all angles and confirm
"the bigger picture". Success is sure to follow!
Be mindful of the expected volatile US and Canadian news due out today!
Snappy trading!
Saba Jackson
Have you ever had an opportunity to study a painting or a photograph in some detail? Do you recall the thought patterns that triggered through your mind? Perhaps you were filled with joy or consumed with sadness?
If I asked you to re-examine the picture, but this time, from a different perspective and at a contrasting point in your life, would you experience the same sensations?
In fact, if you were to ask a colleague for an opinion on the same, what would you expect to hear?
You see, each of us is unique - and our individual perception of what we see, feel and hear at a particular point in our lives, is incomparable to that of another.
The same emotions apply to our trading patterns. The successful trader will have the ability to analyse a chart from different perspectives and with a neutral state of mind.
Below are two charts for the USDCAD; one is the weekly and the other is the 60 minute.
The weekly chart reveals to me that price is enjoying a vigorous uptrend. In fact, the candle is determined to break through the next resistance level at 1.27 and reach for the figure1.3.
MacD confirms the same.
"I see a clear long position."
USDCAD weekly chart Advanced Get
The 60 minute chart paints a contrasting picture. Price is flagging - it has created it's own resistance and appears to be losing upward momentum. It could be heading towards the trend line support. In fact, MacD confirms this to be the case.
"Is this a super shorting opportunity?"
USDCAD 60 minute chart Advanced Get
My personal trading style dictates that I assume a "long" position...... but when the time is right!
Having observed the chart from different perspectives, I believe I have made a balanced judgement, ensuring the probabilities are in my favour. I am also prepared to accept a small loss having employed rigid risk management techniques.
Finally, I can smile and enjoy the rest of my day!
Dynamic Traders, be certain to analyse your charts from all angles and confirm
"the bigger picture". Success is sure to follow!
Be mindful of the expected volatile US and Canadian news due out today!
Snappy trading!
Saba Jackson
Labels: usdcad
posted by Saba Jackson @ 10:21 AM
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