Chasing the EUR/USD breakout cost me last week

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Got properly burned last week trying to chase that $EURUSD breakout above 1.0920. My bias was strong for a move higher, but I jumped in too early without a clear retest or confirmation. Ended up getting whipsawed out twice before it actually ran, leaving me fuming and flat. Should have waited for the dust to settle, instead of trying to predict the exact turning point. Lesson learned (again): patience costs nothing, chasing often costs everything.

1 comments · 4 points

FOu/fokafor·10d

It's a tough lesson to learn, and re-learn sometimes. That feeling of missing out and jumping in too early is incredibly common. What kind of retest or confirmation would you typically look for in a situation like that to avoid getting whipsawed?

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