A common mistake traders make:

As we know, prices go up and down, it's only lately we're seeing even more extreme market conditions across all pairs.  What tends to happen is traders get stuck in their mindset, whether that be a bull or a bear.  This is hope!  We've always said we need to adapt to the markets, when they go up we trade them up, when they go down, we trade them down.  What tends to happen at extreme levels is that traders become fixated on their bias, this is either euphoria or because they didn't have a stop loss and have positions stuck in a either direction.  So, if they're in longs and the price comes down, they're always looking for a low to go long again, if they're in short and the price goes up, they're always looking for the high to go short again.  What is the problem here?  Your stop loss, your bias and the "herd mentality".

Due to the range we're marking caution on the daily bias today. To help you navigate the range and for those who scalp, these are our daily red boxes

Hope you're making use of them!!

Power of Excalibur Red boxes #redboxtraders 🔥

In Camelot, point to point, level to level

When price is ranging:

Don't get used to it, they do this intentionally. They will play the range, get your confidence up until you start increasing your lots sizes, then they'll move and if you're in the wrong direction, they'll take back everything you make and more. When you have a decent day on the markets, don't try and force a trade, your next trade needs to be even more precise than the last one. A mistake traders make is think to themselves, yesterday I made $100, today I can afford to lose $50 and I'm still up. No, because if you lack the discipline to sit out and wait for an A STAR set up, you'll lack the discipline to stop losing when you get to $50.

Anyone long from the hotspot, quids in 💥

manage trade

Key levels for today, 2347 and above that 2360 resistance, while support stands are 2335 which will need to break to go lower. Long trades should be protected and managed, anyone looking to short, levels are to be tested for the scalps only at the moment. NFP week so they may want to range up here until Friday, caution on the markets.

Yesterdays Redboxes done their job as usual. That bounce back up was from the hotspot we shared with you all into the hotspot above completing the move. Thanks for the 33 likes on the idea, really motivates us to share more with you all 🙏👍