“It Can’t Go Further!”

Allowing yourself to form judgements about the market is one of the common reasons traders come unstuck. As human beings, we all have a deep seated desire to be "RIGHT" but if we let this get the better of us, then our ability to objectively assess price action becomes impaired. Many traders, both inexperienced and experienced alike, can be tempted to hold views on whether an ongoing trend is likely to reverse or continue. Can you see past statements such as "It can't go further!" and trade objectively?

In his latest article, Craig Cobb walks you through an example of a market that has been in an extended uptrend. From looking at the charts for the GBPNZD, Craig identifies an overextended uptrend on the daily. The daily chart does not provide any opportunities that fit Craig's trading strategy. However, instead of saying "It can't go further!" and moving on to the next market, Craig applies his strategy objectively and moves down the timeframes in search of opportunities.

Does Craig find any trade set ups on the GBPNZD? Continue reading his full article here to find out.

Regards,
The TWP Team