Season of Change

Just because the price action hit the bearish trend line and pull back does not necessarily
mean the price is heading south.

If you observe closely, there is a Cup and Handle pattern formed now in EURGBP. Once the price action breaks out of the neckline at 0.85619, then it will charge higher towards 0.865.

Alternatively, if the price action does follow the right handle channel and continue to head south, there are a few levels of support as indicated in the chart that it can revisit.

Ah, by now, you would notice that EURUSD, USDCHF & USDCAD and now EURGBP are now facing a dilemma. In situation like this, it may be wise to sit back and see how the price action plays out in the coming days. We are about a week to go before saying good bye to 2019.

If you put a gun at my head and make me take a trade, I will bet that it will breakout of the bearish trend and go higher. Under no circumstances, imo, should a trader be put in such a situation and succumb to pressure like this.

As trend followers, we follow the market direction not dictate how it should go. The moment you think you are in control of the Market, you are in for a big surprise. I ain't the institutional player or some big boys that can shift funds to move to the market. Just be happy to tag along and make some daily bread out of their movement, haha.


James 5:7 ESV /
Be patient, therefore, brothers, until the coming of the Lord. See how the farmer waits for the precious fruit of the earth, being patient about it, until it receives the early and the late rains.