50% fib retrace Tag

I'm really sorry to say that yet another Week has passed with very little in the way of updates from me. I'm starting to become unsure as to why I'm not seeing the trading opportunities that were plentiful throughout January to March. I've started to question whether I'm lacking in confidence, missing good set-ups, or there just isn't anything that can be deemed high probability. There have been a lot of moves that looked obvious after the event, but picking the good ones before the event has been particularly difficult and hence I've barely collected any pips all Month. Only 3 trades were taken over the last Week, a DOW short from 13,010 which wasn't intended to be a swing trade but ended up as a 3 day hold and delivered a 186 points profit, a Cable short that was stopped out for a 35 pip loss, and finally another attempt at shorting CAD:JPY which has remained a

GBP CAD is one pair that really hasn't responded to my previous analysis. I loved the idea of the Daily Ascending Triangle formation that would finally form a break-out from the 12 Month trading range. Thus far, that hasn't come close to materialising and further technical damage has been done since. Because of it's choppy nature and wide spread,

Here is a really nice short set-up on NZDUSD that I have found. The first chart shows confluence of: 1) A previous area of support and resistance. 2) The 55 and 200 ema’s. 3) 38.2 % fib retracement from the peak printed on August 1st. 4) 50% fib retracement from the peak printed on August 31st. 5) 0.8000 round number.