A Canadian Consultation

Good Evening Dynamic Traders!

Following a discussion with my fellow blogger, a focus on the Loonie is lining the mind!

The weekly chart offers a long term up trend, recently challenged by the descent since March this year.

Price is presently seated at the value index and figure cluster, resulting in this weeks current rally.

Let's take a look at the daily chart below.

A definitive downtrend is in play, supported by XTL strength.

Having recently breached the value index, an expected retracement is now in action.

Dynamic Traders may now be mulling over this map, contemplating the prime price at which to sell this rally.

A number of reference points are indicated, all of which are suitably significant.

A simple truth prevails:- it is virtually impossible to know in advance which of these will trigger the reversal, if at all!

More importantly........... it matters even less so!

Choose one that tickles your fancy and defines your perfect "edge"; use it repeatedly each time this scene is witnessed, and only then will real results and benefits be manifested.

This is the essential ingredient to true "consistency" in trading.

USDCAD daily chart Advanced Get


Steady Trading!

Saba Jackson