yesterday very interesting day in the Team. We had a long triggered which went in fast profit, Take Profit 1 hit and then back down to SL, for 0 pips in total. Typical false breakout.
Once again we are pride to have a system of trade management called “The Free Trade Tecnique” helping us to save our capital once market decide to do false break-out like that one.
After that we had a congestion day, market was just waiting for the FOMC. When FOMC popped up we had a massive break of the major support line.
US economy is recovering and further money ease are not on the book anymore. Good news for the world, bad news for the bulls.
We were not looking to seel euros yesterday as all our scenario was bullish. Pivots and Price action.
We were bullish > we entered a buy order > we were with the wrong side > we didn’t lose a single pip.
This is not only trade management art this is also “being true to the rules”.
I am not sad for the big short I missed, it was not in our analysis. I don’t like unjustified wins.
Remember they are the beginning of the end for a trader.
Today: price oversold, Pivots now mixed, classical NSNL* situation.
We’ll wait for some consolidation before finding a reason to enter in a long targeting Daily Pivot or a short targeting the green support line.
Have a great day
Davide | Chief Trader
*No Long No Short
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