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Longshadow

USDMYR Exchange RateLong shadow candles appear on the daily chart. Well, before you say anything, yes the candle isn't close yet, but it's a pretty good exchange rate. If you had earned from trading and the denomination is in USD, it is a good time to withdraw some profits. 4.2240 indeed is a great zone for profit-taking. You will be surprised, at how much more $$ it will bring you when you time your withdrawal. However, it is not a good time to pay using MYR for your USD commitment, SGD will be a better option(if you had stored SGD in advance). Never underestimate the importance of business planning from shifting your cashflow from 1 currency to another.
Short
by RaynLim
USDCAD - Key ResistanceUSDCAD reached the key level of resistance in the daily chart. With a pin-bar or a long shadow, the candle do get me interested in shorting it. Wait, an RSI Divergence as well? I'M ALL IN!!! Let see how it goes. While we have this kind of feeling when we spotted a trading setup that meets the analysis we have done days and weeks ago, we have to remember those losses as well. Know your stats and manage your risk well. How much would you risk for a trade like this? Comment down below.
Short
by RaynLim
GBPJPY - Bearish BatIf you have engaged after this candle closed. It is a great call. And this is why you should have engaged in the trade. 1. It has reached the completion price of the Bullish Butterfly Pattern(cyan). 2. Bat Pattern consolidation at D, but fail to break and close above Point X of the Bat Pattern and that is a good sign. It attracts structure traders to hop in. 3. Long shadows appears, showing a strong rejection of the Bearish Bat Pattern. 4. RSI Divergence is a good sign of GBPJPY weakening.
Short
by RaynLim
EURUSD - Bearish Shark Structure RetestA bearish shark has formed up at 8am(+8GMT) candle today, along with many of my harmonic patterns trade setup. I've chosen not to engage it as today is the day that many of the states vote counts will be released and we won't know what can happen. During my earlier live session, we had engaged this trade and I did mention as long as the 9pm(+8GMT) candle didn't break and close above the Major Resistance, I'm going to engage it. The best part is it is still below the bullish trendline. With the US Election 2020 and the Brexit Negotiation, I'm fundamentally bearish on this pair.
Short
by RaynLim
Trade Ideas Educator: GBPJPY GartleyA bearish Gartley setup on the 1-hourly timeframe is very different from the rest of the pairs I've done this week on my analysis. Well you see, for all the analysis that you have seen most likely they are all trade plan and strategies, that's what most traders are looking for, where to enter and where to exit. You just need the 1st step, which is Analyse, Analyse if the market is bullish or bearish and if there is anything you have to take note of. Well GBPJPY is pretty bullish and shorting this pair, it might not be profitable, so why to share this trade idea, you may ask. If point D completed with just a touch on the long shadow, it will show a different story, a short-term weakness. I will watch this trade setup closely and decide if its a valid trade. You can wait for Wednesday Facebook live session or join our TIP community, link at my signature.
Short
by RaynLim