After you get stopped out of your trade, what do you do?
For me…
I like to ask myself if the trend is still intact.
If it is, I’ll look for entries to trade with the trend.
And this is what happened to me when I got stopped out of my NZD/USD trade.
Also, we’ll look at a major mistake new traders make, when trading the Head & Shoulders pattern.
Oops, I Got Stopped Out of My Trade
I hope you’ve enjoyed this week’s market analysis. As always, comments are welcomed and encouraged. Cheers!
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GREAT STUFF!!!!
Thank you Greg! 🙂
Hi Rayner,
I did a similar mistake last week. I did a trade and forgot to check the weekly chart, and finally I revealed that the weekly chart has higher high and stopped exactly above the EMA 50 dynamic support [as you teach us 🙂 ], and the trend go on up. It was a good trade, because I learnt something else 🙂
Thank you!
Shlomi
HI thanks for the weekly analysis .please now realise why i do cut of trade
since i always base my trade on one time frame thus the daily
so now i have to shuffle through 3 time frame for more confirmation and stronger trade set up
thanks for the explanation
Hi Scoan,
Great to hear it made sense to you. Yes trading aligned with the higher time frames would increase the probability of your trades.
I’m hoping to hear more from you in the near future 🙂
Rayner
Hi Shlomi,
Thank you for sharing.
Yes sometimes unknowingly we are trading against the higher time frames stack the odds against us.
Rayner
Rayner,
I see your view on the EURUSD. What do you think then on the commodity markets? Are you seeing crude (33$)/silver (10$) /gold (980$) if USD trends towards 0,85? Then I guess USDCAD would be rising towards 1,4? I am not asking you to guess the future although try to get your view on correlation between different trades.
Mostly I am interested on silver if it does a close below 13,5$. Thanks.
Hi Alberto,
To me the trend is still down on Eurusd, crude and Gold.
I can’t predict how far it will go like you’ve said.
Cheers!
Rayner
Hi Rayner,
I like your advice to trade with the higher time frame context or trend. Would you look at anything else when considering market context?
Regards,
Michael
Hi Michael,
Thanks for reaching out.
I would prefer to long the strongest markets and short the weakest one.
Rayner