FOREX THEORY
WRONG!
You’ve been hit by the “Smooth
Retracement!”
Nobody likes to be hit the “Smooth
Retracement” but, sadly, it does happen.
Why?
In the above example, the forex
trader failed to recognize the difference between a retracement and a reversal.
Instead of being patient and riding the overall downtrend, the trader believed
that a reversal was in motion and set a long entry. Whoops, there goes his
money!
Check out how Happy Pip got fooled
by the “Smooth Retracement” in one of her AUD/USD trades.
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