Hey traders whats up? How is everything?
We need to remember that our job as traders is to find:
- the clearest trade opportunities
- and those with the lowest risk involved
How do you find them?
It’s easy… find the currency pairs with clear S&R levels and clear swings… that’s it!
You are good to go!
Hehehe wait… you want more?
Look, sometimes the market behaves in unexpected ways and there is nothing we can do about it. The thing is that most of the time, the market moves from one level to the other… And there is where we come in… we try to take advantage of those swings.
For instance, take a look at the CADCHF
In the chart above you can clearly see the market swings… It’s clear that it broke through an important resistance level and it is likely to continue its way up.
Now the only thing that we need to do is to find the right place to go long… in order to find it we need to look at the short term charts:
(Dont worry about those large candlesticks… it’s Yellen speaking)
The idea here is to wait for the market to settle down, if it moves down to the short term support level and we see upward pressure around that level, I’ll definitely go long.
What do you think about the CADCHF? Are you going to trade it?
Which currency pair you think is the clearest one to trade right now?
Share your thoughts in the comment section.