Rare that I go short on a Friday but the double top pre entry proved interesting on the 1 hour chart. So I looked into it further. Sunday night Globex called for sticking with the plan and staying short.
Been a busy week setting up a few on-line changes. Working on another platform to assist in your trading success https://twitter.com/TraderDick1
and I didn’t get anything of depth written here with the trade in focus.
Normally you wouldn’t find me taking a short in a currency at the end of the trading week but as you’ll see on the marked up chart, this setup was too good to pass.
This week we’ve seen a rally in the Canadian but as of now, that would be counter trend trading. There’s been a great bounce but while the down trend is intact, long trades have to be passed by, no matter how good they look. Hard to sit on my hands but that’s what discipline means. Not hard to find a lesson there. What’s hard is sticking to the rules. But as we all know, that’s where the money’s made…