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GasperiniGS
Jan 2, 2017 6:18 PM

First opportunity of the year Long

British Pound/U.S. DollarFXCM

Description

We just made a strong move up, breaking the previous OR/retracement/structure. Now, the price is coming to the .618 retracement lining up with structure looking left.

The market gave me an opportunity with a 3:1 Risk to Reward, so I only need to ask myself one question: Does this complete more than 25% of the time?, and the answer is yes. When you start to think this way, trading become simple, and you associating pain with taking a loss.

Comment

Correction: When you start to think this way, trading become simple, and you STOP associating pain with taking a loss.

Trade closed: stop reached

Got a reaction from that level but not the follow-through that I expected.
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