What to do after reaching the goal [FX Planner]
In FX, we have learned up to now the importance of continuing to trade toward a self-set target. So once you actually reach the target, what kind of response should you take? We will illustrate by presenting possible scenarios.
【The Essence of Technical Analysis [FX Planner]】
・第1回 Catch the Psychology of Buyers and Sellers!
・第2回 Grasp the Big Trend!
・第3回 Establish your own entry criteria
・第4回 Have the ability to determine when you do not understand
・第5回 What you should do after reaching the target
Table of contents for the 5th part
1. Reaching the target does not mean the goal
2. It does not necessarily mean a switch from the target
3. What is expected from the target location
4. Precisely identify the moment and then formulate a new strategy
Reaching the target does not mean the goal
Up to now, while examining the flow of trades, we explained that after determining the view on the longer time frame, you should check the current situation and chart shape on the shorter time frame, set up potential support and resistance levels, and trade toward the target as you proceed.
By repeating this diligently, the goal is to accumulate stable profits. But when you actually reach that goal, what kind of response should you take?
Many traders tend to confuse reaching the target with reaching the goalHowever, in FX, the target is merely a target, not a goal. If this misunderstanding occurs, what is the problem?