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As you can see from the screen shot above, the EUR/USD was going sideways for days. This is a 240 minute chart (4 hours each bar) and it started to expand in the beginning of the correction, but then started to contract or coil up as we usually say.
Finally I ran a Fibonacci retracement on it and noticed that it rejected the .786 retracement really well. Then it did it again the next day.....and then again.
So we are supposed to maintain our composure and be patient....but then again we know Murphy's law all to well......and that would mean that this will probably break out during the early morning hours when we are sleeping.
In my case I knew it was going to break but being the optimistic type I figured that it would do that on Monday so on one of the accounts I went short.
And nothing happened!!!! The next day the trade was still on and it didn't get stopped out so.....it stayed on for Tuesday. And you guessed it......the trade was still on and again did not get stopped out. But now the market was getting squeezed up against the triangle intersection so on Tuesday night I went short again in a second account.
Boy was I surprised Wednesday morning when they were still there and didn't get stopped out. I don't know about you but it would seem that every time I try and let a trade run through the night.....it gets stopped out.
Anyway I was checking emails and replying to some of those emails this morning when I noticed that the chart on the right hand screen was moving. I reduced the email window to see my other charts and wow......it was as if someone pulled the plug in the bath tub. The EUR/USD was tanking!!!
Now the screen shot was taken early on in the morning and the trade actually gave us a little more but to me this was an excellent example of how patience can really pay off. Each trade was only holding 20 pips of risk so it wasn't that difficult to let it run.....and yet everything inside of you keeps saying that it will get stopped out. But then again.....it was a classic set up and should never have gotten stopped out.
The market had a tremendous amount of resistance above it that was tested and tested and tested again. And each time it held its ground and didn't waiver.
So as Christian Traders we need to learn from the market and build our own attributes from these lessons.
In this case it was a great trade and have no fear.....this trade should just keep on going for a few days at least.
But I was reminded of my own personal attributes from this trade knowing that this is the end of the year.....and this swing will close out the year for us as well.
As most of you know......I had a challenging year this year. And at times I had felt that I didn't have much more in me......and wasn't sure if I had what it takes to keep pushing on. But my faith in my God kept me going. And when you know that God has a purpose for you and a plan that has not yet come to fruition.....well you just want to keep on going and hang on to what ever strength you have left.
But this year to me was a long sideways correction that tested the resistance or in my case.....my faith....and tested it again.....and again.....and beyond my wildest imagination....again.
And just like this move when it broke out with such energy and purpose.....so I feel my faith has broken out as well.
So next time you see a trade set up like this and wait and wait and wait.......and your patience gets tested, think about your own attributes and your own faith. Who knows, you may just find that your spiritual life is just like this trade......a chance to gather up your faith....your perseverance......your never failing faith in your God. A God who loves you so much and will never let you down or fail you.....even though sometimes it feels like you are right there in the middle of the fire.
But when you come out of it my friend......you will be stronger and have a great degree of purpose....and a greater amount of faith.
Until next time.......may God bless you real good!!!
