Patience is key

Good Evening Dynamic Traders,

Hope you are having a pleasant week so far. Akin to Saba, I would like to also express gratitude to you, the blog followers, for your kind comments, feedback and words of encouragement sent to Javid and Anne. When you hear of people succeeding due to the blog output, it gives even more pleasure and energy to continue with the contribution. None of this would be possible without having genuine, unconditional guidance, support and mentoring from two exceptional people - Javid & Anne.

I just want to talk about last night's post momentarily as it highlights the importance of filters. The USDJPY did a fake breakout today, got to the 90 area and then shot down. Patience is really key, waiting for the BOB and then applying ESLT would ensure that you would not get triggered when there is a spike most of the time (as nothing is a 100% guaranteed especially in trading!). There are now 3 spinning tops on the daily chart, this pair will remain on my watchlist.













There are currently many charts that are in consolidation mode so its time to wait and watch for the right time to enter. To that end, below is the EURCAD chart. The weekly shows the uptrend and the strong support/resistance levels that have halted price many times.

The daily shows the resistance zone and the trendline which price has tagged a few times. Despite at least 3 recent attempts price has found it difficult to penetrate the value index and had bounced back to normal trend. Note the double bottom in an uptrend. Currently at the Fibonacci breather level, this pair is one to keep an eye on to see if it resumes the trend or goes back to retest the value index.

Good trading!
Bijal Shah

Question 9
Am I willing to do whatever it takes?