Look at this chart and lets examine to trade s that you might have been tempted to take
Trade 1
Coming down to the OO so you are looking for a bounce buy BUT where is it in the BB IT S NOT EXTREME ,IT S NOT SPIKEY trade with caution if at all
Trade management if you had taken that trade or a similar trade you want and expect a momentum move away ...and no return !! so when you go into your profit TIGHTEN THE STOP NOW
This protect s your capital..., a loss of a few pips is no damage done , you can always re enter if circumstances dictate STATS 5 winners at 12-20 pips 1 loser at 10 pips and 2 stop outs at 2 pips losses YOU ARE STILL GREEN
and finally i call it ten above and ten below if you are buying the 100 it need s to clear 110 quickly and it ll likely go further , if it cant close below the 90 it ll likely come up again , if it closes below the 90 it s going lower
Trade 2
caution
Why ? not first recent touch
why ? has nt come from high enough , i prefer from above the 50 line this was range bound below the 50 line
why ? range bound a little above so when it breaks it will have some momentum ,and COULD go lower then the 100
there s still a trade to be had tho yes it burst thro the 100 for all the reasons above
BUT THEN it turned round at the 80
20---50--80--100
but havent i told you about those numbers a few times before !!!
Rob you are soooooo boring !
STAY SAFE TRADERS
Trade 1
Coming down to the OO so you are looking for a bounce buy BUT where is it in the BB IT S NOT EXTREME ,IT S NOT SPIKEY trade with caution if at all
Trade management if you had taken that trade or a similar trade you want and expect a momentum move away ...and no return !! so when you go into your profit TIGHTEN THE STOP NOW
This protect s your capital..., a loss of a few pips is no damage done , you can always re enter if circumstances dictate STATS 5 winners at 12-20 pips 1 loser at 10 pips and 2 stop outs at 2 pips losses YOU ARE STILL GREEN
and finally i call it ten above and ten below if you are buying the 100 it need s to clear 110 quickly and it ll likely go further , if it cant close below the 90 it ll likely come up again , if it closes below the 90 it s going lower
Trade 2
caution
Why ? not first recent touch
why ? has nt come from high enough , i prefer from above the 50 line this was range bound below the 50 line
why ? range bound a little above so when it breaks it will have some momentum ,and COULD go lower then the 100
there s still a trade to be had tho yes it burst thro the 100 for all the reasons above
BUT THEN it turned round at the 80
20---50--80--100
but havent i told you about those numbers a few times before !!!
Rob you are soooooo boring !
STAY SAFE TRADERS