Stop Hit Pattern | Live Forex Trade | GBPUSD | Daily Chart

By | February 10, 2016

See attached video – This trade originally uploaded in July of 2014. This large engulfing candle takes out the last two candles in the move up. The stop hit pushed well above the resistance level thereby triggering a powerful move to the downside. However, this quick drop came after the expected pullback. Another perfect example of why you should never chase a trade, simply set it up per your rules and wait. If your entry is never triggered then the trade is not considered to be a viable trade anyways so move on to the next one.

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