UnknownUnicorn34383511

EURGBP Daily Bullish CURCT

Long
OANDA:EURGBP   Euro / British Pound
Here is a valid bullish CURCT price structure on the daily confirming with this HCT candle. The CURCT usually creates a minimum price move that is equal to the AB leg, so I am trading the CD leg on an AB=CD pattern.  The D level defines the low end of the target area. My targets are usually not a set level because I am trying to capture as much of the move as I can.  So, I am watching these levels for price to tell me if I need to exit the position. If I am not sure what to do when price reaches the first target level, I take half the position off the table so at a minimum the idea is now risk free if I am stopped on the second half.  Or I move my stop to BE on the second half and I have locked in profit on the first half.  By doing this it allows me to manage my emotions and avoid making decisions that I second guess later. If I trade in a manner where I know I can't predict price, then even if I leave some profit on the table or I am stopped on the second half of a position, but the net result is BE I consider those good decisions and it keeps my mind from going on tilt.  If I feel like I am making wrong decisions it snowballs so the psychology of trading for me is the biggest battle. Things that put my mind on tilt include missing a move, exiting a position prematurely and of course a losing streak.  So, using lower risk on an idea, taking half profit and moving my stops to BE are actions that not only protect profit but also keep me from going on tilt.
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