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[RT] A big outside trending day...



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<DIV><FONT face=Arial size=2>An Inside Day followed by a Narrow Range day that 
was almost inside the inside day, was bound to spark something.&nbsp; The odds 
were definitely on for a breakout.&nbsp; Had to be.&nbsp; If it wasn't going 
south - and the re-entry from the south through yesterday's low confirmed that - 
then the chances were that it was going north.&nbsp; No one would know how far 
north and the concept of nearly a 50 tick range and a really beautiful and 
consistent trend in one direction was almost beyond belief...</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT face=Arial size=2>The point is that you have to let things run and 
believe what you see, trust what you know is likely to happen at key points of 
the map, and then the ride becomes&nbsp;very sweet.&nbsp; However, you may have 
to go through pain first:&nbsp;&nbsp; having rejected yesterday's low at the 
very start of the day, it would have been surprising not to have gone long too 
soon.&nbsp;&nbsp; Gone long and then found the market coming back and hitting 
your stop.&nbsp; In fact, when the original intraday low was breached, it would 
have been natural to have reversed with it.&nbsp; Second losing trade - not what 
the day is supposed to be about...!!&nbsp;&nbsp;&nbsp;&nbsp; </FONT></DIV>
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<DIV><FONT face=Arial size=2>The re-entry, as it were, through yesterday's low 
would have had you long again and this time you were right and right again and 
again and again, as the milestone were passed and the measurement of your 
progress kept you going and making up for the two wrongs that did, contrary 
to&nbsp;the usual statement, eventual make the right.</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT face=Arial size=2>Trading is all about believing what you see, when 
you know what you are looking at is right by the book even if the market makes 
it wrong.&nbsp; This is where the correct application of a risk reward strategy 
comes into its own and lets you take the punch, roll off the ropes and be still 
standing straight again to crack the winning hook when you see your 
chance.&nbsp; </FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT face=Arial size=2>Once you know how your market works, you must let 
it work for you.&nbsp; Then, when a day like today comes along you do very, very 
well - even if everybody else, maybe, says it's luck!&nbsp;&nbsp; They may not 
be wrong, but the point is you were right, because you did the right thing and 
it was indeed the right time...</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT face=Arial size=2>Bill Eykyn<BR><A 
href="http://www.t-bondtrader.com";>www.t-bondtrader.com</A><BR>"Learn to read 
the tape"</FONT></DIV>
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