Wait for the breakout to happen first
If you have not bought into this pair since our trade post here, wait now. It is currently facing a resistance at 0.650. It might retrace or it might break out from here to push the price action higher.
If you get in now because you were late to the game, then you might be in for a surprise should the Market decides to retrace. Nobody knows what Mr Market wants to do so wait for him to lead and we just follow.
Attempting to control Mr Market is really not advisable, most traders would end up losing their money or burn their accounts over and over again. It does not matter if you have a big or small account IF your thinking/strategy remains the same.
I could be wrong but I am expecting it to break out and go higher. So, I am taking profits and adjusting my trailing stop loss to let the remaining units run its own course.
If you get in now because you were late to the game, then you might be in for a surprise should the Market decides to retrace. Nobody knows what Mr Market wants to do so wait for him to lead and we just follow.
Attempting to control Mr Market is really not advisable, most traders would end up losing their money or burn their accounts over and over again. It does not matter if you have a big or small account IF your thinking/strategy remains the same.
I could be wrong but I am expecting it to break out and go higher. So, I am taking profits and adjusting my trailing stop loss to let the remaining units run its own course.
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