Good Evening / Morning Dynamic Traders
"Better to have tried and failed, than not tried at all"
Cross = GBPJPY , CADJPY Day chart below.
Good Morning Guys,
Apologies for no post this morning, this was due to BT Broadband issues. You will be well aware that over the last couple of days we have had a pullback after the recent gains and also with NFP due on Friday.
The market reminded that despite no matter how long you analyse a trade, it will have the final say and I was stopped out of the GBPJPY for a loss. As I had entered on a long term strategy, my loss was larger than my usual medium term trades. I have posted the chart below illustrating the logic behind this trade.
As one door closes others open and having recieved a couple of alerts on a medium term strategy taught in the trading room, I chose to enter the CADJPY. Price had broken through recent resistance and with strength in the trend, I used our "Trading Room" tool ESLT to enter the trade. The DAY chart is shown below.
With recent gains taken back by the market, you must stay focused on your rules of engagement. It is disheartnening seeing the pips and £$ being taken back, however if your rules are followed with the trend then your rewards will come to those who wait.
Please do your own analysis before entering a trade.
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