Quote:
Originally Posted by droesparky7
BTW our stop was hit on cable today not long after the trade triggered.
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droesparky, remember that while systems like this have strict rules, you should always use common technical analysis skills along with them. For example, your trade on Tuesday failed because cable hit a well-tested resistance level not breached in the history of the currency. Simply opening a long position because a candle closed right at the fib line is not the best move, regardless of the system, when a strong R line like this is being hit. Why not wait for a decisive close at least 30 or 40 pips above?