Hi P.Dean, do you remember i told you i was waiting a doble top at the eu/yen? i hesitate because i d'ident see a clear DT and i loss the big downfall.Is possible you teach were was my mistake and were i could take the trade?
mel.. there is not a very clear DT at that time before the drop.. meaning no show of failure to the top to validate a fully double top. so don't worry for missing this, you can't catch them all.
but if you wanted to take a crack at this with lesser confirmation and higher risk, then your entry would have been where i marked in the chart below. that entry would have given you a 25pips risk but far enough profit margin measured to the lower band (about 30pips minimum).. so may have worth a shot for the RR sake.
How is price supposed to make a DT there?
knowing pre-hand what your trading and what you should expect is vital to one's success.. which leads to knowing your trading plan from inside and out.
So, the point of this little exercise is for the purpose of "full awareness of your trading plan" which leads to correct expectations at each and every section, all predefined, so one could trade with confidence and NO hesitation, at trigger time or exit time.
many thanks, "full awareness" is exactly what I need in my trading. Your post is like a thunder waking me up from my blurred dream.
thank you again, Dean!
Please keep your thread going a little longer. We are loyally learning from you!
Thanks for letting us know.
Was already wondering why you didnt trade today
Looking forward to seeing your trades again from tomorrow on
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