Quite an obvious uptrend. Think we've moved out of the consolidation phase. Put in a long position at 0.775 on my demo account for 50 pips at 0615hrs - no discipline to follow my rule of trading only at 2359! Well at 2300hrs, it's 0.77. I'm down 40%! If I'd waited till today 2359hrs, I would've seen the fakeout. But no worries, gonna stay in the trade. Who knows it might still be a stop hunt. Furthermore, it'll probably bounce off 0.77 - we'll see.
Edit: looks like the spike to 0.775 was the stophunt! Trade closed at 0.765 for a 120% loss. Still up 60%, so gonna continue trading this strategy, just with a bit more care! Put in a contrarian trade at 0.765 with a 0.77 tgt. Let's see if we can get back some of those losses! While it's not entirely part of the rules i.e. trading with the trend, 0.765 is at the bottom of a falling wedge, so let's see if the bounce occurs.
Yours,
X
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