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Multi timeframe analysis of the GBP/CAD
Keeping a birds eye view on the overall market condition canhelp in taking good trading decisions or sitting on the sidelines when the
expected trend directions are contradicting each other. For todays purpose I
will only illustrate an analysis on 2 time frames: first one a 4h chart and the
second one a 1h chart. Usually experts recommend at least a set of 3 timeframes
but I find that more than 2 can become confusing and we can get into analysis
paralysis as they call it. Now lets get down to th…
expected trend directions are contradicting each other. For todays purpose I
will only illustrate an analysis on 2 time frames: first one a 4h chart and the
second one a 1h chart. Usually experts recommend at least a set of 3 timeframes
but I find that more than 2 can become confusing and we can get into analysis
paralysis as they call it. Now lets get down to th…
Frame of Mind
What goes inside the Mind of a trader is directly related to the success or failure of a trader. Charts matter, Edge matters , Timing matters , Understanding your market matters.... but the commonly under estimated thing in my opinion is "Frame of mind" as they say:
As a trader we…
Watch your thoughts; they become words. Watch your words; they become actions. Watch your actions; they become habit. Watch your habits; they become character. Watch your character it becomes your destiny." Lao Tzu
As a trader we…
GBPCAD
Charts: 4Hours, 1 Day.
Indicators: Fibonacii Fan Lines, Fibonacci Retracements,Support & Resistance Levels , MACD, EMA 200,100,50.
Current Level :1.6797.
GBPCAD recently reached a major resistance zone at (1.6961) ,fibonacci fan level 50% from which the trend retraced lower. The current level is (1.6797) and the price is heading down. Now it is between fibonacci fan lines levels 50% & 38.20%. and can be observed that on a larger time-frame there is a channel down forming up .MACD indi…