Updated

Why you should always wait for the break of trend

Hi Guys this is a quick lesson from today's live chart USDZAR. Most people are looking to short the Dollar today so in today's trading Room I looked at this particular chart and advised that you only open a trade once price has pushed lower and given a short trade set up. You'll see from the chart that it was tempting to open a short on a fib retracement and you'll also see the reason why it was a bad idea.

I'll update this lesson as price develops

Steve Nixon
Trainer & Mentor @logicfxtrading.com

Note

Here is the same scenario on the GBPZAR. Yet again I suggested we wait for a pullback and set up before getting involved (if at all)

Note

The above chart was drawn before the spike

Note

As predicted

SteveNixon

Twitter: twitter.com/logicfxtrading

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

SteveNixon

Twitter: twitter.com/logicfxtrading

Facebook: facebook.com/logicfxtrading

Telegram: t.me/logicfxfreetrades

Flipboard Magazine: tinyurl.com/yazs9szc

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