What a day! (and it hasn't finished yet). Just when you thought that today's lowlight was to be a disappointing loss on USD/JPY early doors, the markets promptly explode. 'Expect the unexpected' is certainly the order of the day here with the main 'surprise' being the follow-through movement of nearly $30.00 on GOLD from the system entry level at $1171.81. Nice....
The GOLD multi-day (MD) system is usually a bit of a slow-burner, often taking a few days to achieve its price objectives which often come in at around $15.00 and $30.00 away from the system entry price. Not so today as the first and second targets of $1185.13 and $1198.98 respectively are seen on the entry day of the system with the stop loss now at the entry price, all but ensuring a 'risk-free' trade from here on in.
Trading through drawdowns, whether they last for only a few hours or several months, is a fact of trading life and one has to be able to live through them to see the 'promised land' of new equity highs.
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