Generally speaking, and I dont trade currencies but I often get trade setups at inflections points and sometimes my system get the initial direction wrong and I will take the loss at my stop price but also will REVERSE at my stop price. You'd be surprised how often this trade ends up being very strong directionally.
Not suggesting anyone trade a "classic" patterns without any other analysis (and expect to have an edge in that direction) however these setups often become big trades if you are willing and able to reverse the position (my system is 100% objective on these but many are afraid to pull the trigger and reverse). If your system gets you in early on the break (up or down, depending on the setup), reversing at a stop should result in a relatively small loss and riding the momentum in the opposite direction.
If you find yourself often in trades that quickly reverse and run the other way (as if it seems like clockwork), do NOT get frustrated. You've identified a key moment in the day. Many times the mkt oscillates in a range and then busts out. If you get it right the first time, ride the move. If you are in and the mkt leans for a moment and then reverses, stop out and reverse. You should find this works well. But please do your own research first, don't blindly do anything anyone says to do on a website. Just focus hard on these moments and learn all you can.
Not suggesting anyone trade a "classic" patterns without any other analysis (and expect to have an edge in that direction) however these setups often become big trades if you are willing and able to reverse the position (my system is 100% objective on these but many are afraid to pull the trigger and reverse). If your system gets you in early on the break (up or down, depending on the setup), reversing at a stop should result in a relatively small loss and riding the momentum in the opposite direction.
If you find yourself often in trades that quickly reverse and run the other way (as if it seems like clockwork), do NOT get frustrated. You've identified a key moment in the day. Many times the mkt oscillates in a range and then busts out. If you get it right the first time, ride the move. If you are in and the mkt leans for a moment and then reverses, stop out and reverse. You should find this works well. But please do your own research first, don't blindly do anything anyone says to do on a website. Just focus hard on these moments and learn all you can.
