Just updating an earlier trading idea. The 1st target profit has just been hit.
Trends are powerful. They require a lot of effort to be reversed. The odds are this one will continue.
However, after the breakout and confirmed transition into a confirmed uptrend, this market is now trading against an area where bearish pressure is likely to step in and interrupt the bullish momentum.
Goes without saying that , if you're more into a trend following approach, then there is no exit trigger in this market for you at the moment.
No matter what your style and interpretation is, remember that what's really of the essence is risk management.
Cheers,
Tenacious Tribe - Backtested, Quantified Trading Strategies
Trends are powerful. They require a lot of effort to be reversed. The odds are this one will continue.
However, after the breakout and confirmed transition into a confirmed uptrend, this market is now trading against an area where bearish pressure is likely to step in and interrupt the bullish momentum.
Goes without saying that , if you're more into a trend following approach, then there is no exit trigger in this market for you at the moment.
No matter what your style and interpretation is, remember that what's really of the essence is risk management.
Cheers,
Tenacious Tribe - Backtested, Quantified Trading Strategies
