See daily chart of EURUSD below for the discussion that follows.
Many of the EURO pairs sold off sharply this past week, breaking support in the process; the EURUSD being one of them. I will look to go short if resistance (previous support) gets confirmed in terms of candles / price action.
GBPCAD (post from last week) did produce a hammer at the mentioned support zone, but I decided not to enter. Like I said in last week’s post… I’m trading a lot less because this volatile / news driven period. I might look at trades but it doesn’t mean I enter all of them.
Remember, always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Stick to your stops and never bet the farm.
On Ideas: Please don’t take this as trading advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
Thanks for reading.
Thanks and Regards,
Trading SOS SOS