When we initiate our trades we decide either a long or short direction and then get glued to our position’s direction. But what IF the market goes in an unfavourable direction? What are the traders on the opposite side of your trade thinking?
Right now I am GBPCHF long.
But what if the market turns around?
Well I also drew a possible descending channel… which i wouldn’t like to apply to this trade, but it can.
It means I will have to be ready if this descending channel will dominate. Being ready means having a plan B or at least a second perspective on the market so that you don’t get caught up narrow- mindedly.