DislikedThis damn market is all over the place today.... It's a mine field !Ignored
There is no ryhme or reason to that other than someone making money, nothing else at all. They made money selling it, then decided to make some more by buying it all back... Mind you it is what it is and we have to learn how to trade it..
I get into trouble on two accounts, the first one is when I believe I know where somethings going, thats a big no no...
The second reason is I'm in too much of a rush to get into the new move back with the trend, need to wait for the price to turn completely back with the trend wait for a pullback and jump on..
Heres what we have to do...
Wait for some strength or weakness to show itself across the board..
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Wait for the strong trenders in the TTindy then with the 150HMA sloping nicely, lets say up for example so its green and sloping up nicely, wait for price to be nicely above it and pulling back towards it..CCI +/-100 only signals..
Put 10 pip stop behind signal candle..
Heres a couple of GBP charts from that last GBP strength reading on the TTindy..
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Thats it and don't trade anything else...
Takes discipline to wait for the right signals as you have to let a lot go without you on them but invariably they come back on next deep pullback and pick you up anyway, so nothing lost...but it can be done.
The problem I find is rushing in terrified its going to go without me, thats my biggest battle the fear of missing out and my old adversary the fear of leaving something on the table..
Apart from those Monkeys on my back I'm fine...
Feel the Fear and do it anyway!!!