Cable Tightrope !

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = GBP : Daily Chart (Posted Below)

Long Term Trend = Down : Short Term Trend = Down

Having had a couple of days with profits on all trades, it was the markets turn to tell me, the market is ALWAYS right.

Trading with the trend, I was caught out with the 0900hrs 60 min candle, in one short sharp action, price moved up, taking out my profit at the time and hit my stop loss, leaving me annoyed ands out of the trade with a loss.

The trend was down, the indicators showed price down and the day candle still finished the day RED. What we had was intra day movement, related to news and will catch most people out if not understood.

On the day chart we still have plenty of air below the price and within the trend lines. We are at a RN at present, and stochastic s are approaching the "OS" area.

We have key news items out today regards this cross, please do your own analyst before entering a trade and manage your stops accordingly.















Courtesy of Advanced Get / E Signal


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Trade with Passion

John Maher
Forex Analyst