Good Evening / Morning Dynamic Traders
"Better to have tried and failed, than not tried at all"
Cross = GBPCAD, Day chart below.
Good Morning Guys,
The market resumed its trend movements today and rewarded all those that waited patiently whilst pullback and consolidation took place, and wasn't worth it.
15% Gain of funds in ONE day.
Remember those who follow this blog know we have 23 trades in play and as they say "You have got to be in it to win it !"
Our worst performing cross in our basket is the GBPCAD, so I have posted the DAY chart below to refresh ourselves with our entry etc.
You will see from the chart we entered this trade in our usual aggressive manner after a breakout had taken place and our ESLT triggered the trade. Despite our indicator showing strength in the trend at entry, you will see this faded away and we entered a consolidation phase. (After every big move there will be consolidation) A couple of days ago on price hitting resistance we were presented with a doji candle indicating a change of direction and today price made thgat move.
After such big moves today, do not be suprised if the market takes some back tomorrow. Please ensure you have managed your trades and do not break the rules you have set. If your rule is price closing below a perticular point = move stop, then wait until price DOES close below that point and NOT just hits it. This is a regular bending the rule, that people do.
Please do your own analysis before entering a trade.
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