The Millionaire Trader's Handbook
Page 16
As shown in the chart below, price
broke the neckline of a
double top formation, with the potential next-level target for
price being the support zone as indicated by the yellow bar.
We all know that the characteristics of a downtrend are lower
highs and lows.
The Millionaire Trader's Handbook
Page 17
As you can see in the image above,
price has formed lower
highs and lows indicating a strong bearish move. The next
level profit target is at the support region.
So we open our MT4, place our
stop loss order and take
profits as anticipated with 0.10 lots open. A few moments
later, we open up our charts
and see that we are in profits,
are happy and go chill.
However, when we return and reopen our charts, we can see
something different from what we anticipated. Price couldn't
fulfill our analysis which resulted in a reversal, and took us
from a profit to a loss.
What am I trying to derive from this point? We didn't take
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