EURCAD 4-25-07: Update

The Currency pair has gone against us this morning. Please see charts below. “The Kijun Sen is in love with the price and moving towards it drastically”. If price and Kijun Sen cross then out sentiment will change and our stop will be triggered.
The new stop based on the Kijun Sen is at 1.5348 + 5 PIP(buffer). Even though it looks like the trade went against us, trade the PLAN. You never know what will happen so do not alter your mindset or your plan. Remember, you want to be consistent in the way you trade.
So what happened? Well, as my mentor mentioned to me this morning, I did not do the following: “the goal is to always see beyond the single trade”. What does this mean? I did not look at the weekly timeframe to see the BIG PICTURE. Here is what the weekly chart looks like:
Notice the chart shows a Bullish sentiment with the Kijun Sen very bullish. If we get stopped out, it will be a learning lession. You will have some learning lessions along the way which will cost some PIP that but is ok. That is why you trade with mini-contracts for 1 year during the learning “phrase”.
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