This is a follow up post on the EURUSD waiting to break out of a “mini-range”. The original post can be found here.
The EURUSD was trading within a range earlier, and we were waiting for a breakout to either side of the range. This is what the chart looked like:
Based on simple chart reading, we expected the EURUSD to breakout to the upside, which it eventually did.
Real World Forex Trading
Unfortunately, in the real world of trading, sometimes this can happen. The trade takes off in the expected direction, but whipsaws and takes out your stops. After you’re out of the trade, it returns back to the original direction.
There’s nothing much you can do about this, except to wait for another low risk high reward opportunity to get back into a good trade.
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