We've made some good pips with this pair recently if you have been following (related ideas). Here are the two scenarios.
Scenario 1: Price breaks under current support and we sell
Scenario 2: Price remains in the structure and starts rising towards the top
I favor option 1, and this is the trade I am waiting for... However I will happily use Scenario 2 as my "plan B" to make pips anyway.
Knowing what will happen if your ideal scenario DOESN'T happen is the best way to keep profits consistent and minimize frustration.
Scenario 1: Price breaks under current support and we sell
Scenario 2: Price remains in the structure and starts rising towards the top
I favor option 1, and this is the trade I am waiting for... However I will happily use Scenario 2 as my "plan B" to make pips anyway.
Knowing what will happen if your ideal scenario DOESN'T happen is the best way to keep profits consistent and minimize frustration.
Komen:
Closed half position 0.893 and adjusted stop (which was hit)
Now waiting to see if this will break down here to short.
Now waiting to see if this will break down here to short.
Option 1 is always though and should be prepared for.
Happy trading.