What was going to be an easy trade turned out to be most difficult. Sometimes at intermediate highs and lows we can see that smart money traders can manufacture breakouts and break downs that fool the dumb money traders into entering trades at the worst moment This is not what happened with our euro trade as we shorted too early. What I am talking about are the dumb money traders who bought the breakout after the euro broke out of the 12 year trend line. Of course today, the market closed back below the trendline leaving those who had just bought with some bad positions.
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