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Tricky start of the day

Posted on October 20, 2009 at 4:59 in Market comments by David Aranzabal

Today Cable started the day at the Frankfurt Opening on the upside. We were long on the breakout but the price started to make a consolidation pattern (123). Only money management techniques can avoid a loss on situations like this.

After the consolidation at resistance levels (1 hour chart resistance) the price broke the ascending trendline and went all the way down to the support area (Asian support).

Personally for me a tricky session today, I didn’t feel good on the way down and I closed the lots rushing.

This business is about the correct mindset and sometimes your mind plays games. Anyway a break even day, Just remember: consistency is the key.

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