EURCAD trend continuation

Good Morning Dynamic Traders

It's almost the end of another trading week. Trends seem to be continuing, much like the sun in London right now! Let's hope both are here to stay for some time yet.

EURCAD is one of those great trends that seems to be continuing south. I hope many of you have profited from the friendly trend ride. I'm currently managing two RF positions on this pair (one hit T5, the other T3) and awaiting entry for another possible short. However, due to the key support level price is currently at, my preference is a confirmed BOB before entering.











Yes we have a RN close below, but it hasn't proven to be a S/R level previously. Confluences as they stand still favour a short - price is channelling down, it's below the VI and major figure and ST is forming a new false bar. Of course price could find the current support level/looming RN too strong to break and bounce up. But you have to be in it to win in! You just have to decide what you're prepared to pay in order to find out.

In any case, this chart is a great example of trend trading and keeping it all simple!

Enjoy the weekend. It's the London Marathon on Sunday and I'll be going down to show my support .. it's so inspiring seeing all kinds of people from different backgrounds, ages and abilities making it happen! Makes you realise there are no limits to what you can do!

Abundant trading!
Sonia Molina

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