I am currently in a couple of trades where They are at key levels and price action has triggered the entry, for my system it is a good set up.
After the price action trigger, the price is still ranging for a while before making a big move, does this mean that I should get out of the trade as there is not further confirmation? My trading plan doesnt allow for this but am now considering it.
Any advice would be great.
A very important aspect of entering a trade is to have an exit strategy as well.
Considering the ranging market,either wait for a breakout or exit if the pair u are trading as a certain news event coming out soon.
Post some charts with your detailed analysis.
It has actually just started moving (USDCAD pair), at the moment my plan doesn’t have an exit for this scenario though, what would you recommend?
Are u in a buy or sell?
I was just looking at the chart now and a bearish breakout in the smaller time frames.
And a US news event is coming up in 1hr+.
I am in a sell based off of a long term trend.
I am aware of the news event, will be watching closely at the time
Oh ok then.
UC is actually bearish long-term and an SL could just save u from short-term pullbacks…the news events is unlikely to cause high volatility.
Just have to trust in your strategy and have an SL youre comfortable with.
This is my thinking as well, I have a SL above the long term trend line so should be safe, but will be watching anyway.
@CraigForex2020 That has always been my thinking but was just wondering if once you trigger and then nothing happens, do you pull out and wait for a new trigger, or do you stay in and trust your SL. I tend toward the latter but was interested to know what others thoughts were
If you haven’t set an SL, set one. If it is hit, move on to the next trade.
This is all good, it is corroborating what I am currently doing.
Why don’t you post a chart w/ explanation of your tech analysis?
If the TA etc. features that convinced you this was a good trade and you entered on a good signal appropriate to your TA etc., then a short delay before price moves strongly in your chosen direction is not significant.
Contrary to what a lot of us believe, the market does not decide what it will do right after we open a trade.
(though it feels like that sometimes…)
I hope you enjoyed your Short trade yesterday cos USDCAD dropped some heavy pips on the downside 
.
I did indeed, still in the trade actually - caught 93 pips so far!
Kudos to u📉
I don’t think it can be considered as a trigger to get out of trading, well, at least if you’ve done a technical analysis on this deal. When the price action doesn’t meet my expectations then I just sitting and waiting for the correction. Of course there are situation when there is a position opened in long and it goes downside, I’m not despearet and wait for the correction. Also, there sl and tp why don’t you use these two useful instruments which can help you to avoid deposit dumping? SL minimizes your risks despite the fact tha TP a bit restricts the possible sum of money which you can earn.