Good day, great traders,
It’s been a crazy week, hunting for setups and basically seeing nothing or half baked setups.
In such cases what does the hunter do?
What does he go back to tell his family?
- There are no animals in the jungle to hunt
- I have lost my hunting instincts
- I am too scared to hunt, or
- My gun refuses to shoot when pulling the trigger on a kill
Truth is, it happens in every profession, there are some weeks that the market presents very scarce opportunities. The best thing to do in these times is:
Get working on something you love doing other than trading. The market will present opportunities again sometime in the future.
Remember, trading is like swimming. The harder you splash, the faster you sink. To remain afloat on water has more to do with calmness.
– Fillipo Saga
Alright, let’s talk charts…
I have a pair I am eyeing, however not keenly interested in it. I mean, I would prefer to go swimming today or reading a book while my laptop is closed.
However, it’s a trade one could still squeeze out some pips from…
1. CHF/JPY
CHF/JPY on the daily chart is currently finding it difficult to break a key resistance level (108.711)
After price broke out from the support level (111.118) of a pennant, the Bears took over until price hit support level 107.605.
The big question is:
Will price return to 107.605 with the present consolidation formed at the resistance level?
It’s a question to be answered by the market hopefully before the close of the market today.
Thanks for your time ladies and gentlemen, do have a great day ahead.
