Second Target was hit intraday today and we covered our final leg on a globex pop. This trade work out very nicely with very little pullback. This is the exception and not the rule. Most moves have some back and fill before hitting 2nd and 3rd targets. From the looks of it, 2016 could be a very good year for traders. If you missed this trade DO NOT CHASE! There will be many more coming.
Hi Newbie...in hindsight it's easy to say that...but in the moment that is where we defined our targets so we booked profits. We can always look for another setup going forward. If the move is for real there will plenty of opportunities. If not, then we took profits at a good spot. Profits are booked and waiting on the unemployment number this morning in the US. Have a nice weekend.
Newbie...as a follow up. Take a look at the Gold now that the US unemployment news is out. This is why we use targets and take profits. Now we can reload on a trigger and take advantage of further upside movement. I am not saying holding is wrong...it depends on your time frames, but we have been traders for over 15 years and our plans do not change and it has kept us profitable. Hope it helps. Trade well!