Last week I mentioned that the market could repeat its trick of making new highs only to retrace shortly after, and you should protect your profits accordingly.
This is exactly what then transpired and I hope you were at least aware of the possibility. Everyone has a different tolerance to market gyrations so how you handle them is slightly personal. However, being aware of the likely possibilities is always handy so you can be prepared.
Some of my recent reversals are still nicely in play, others have been closed as scratch or small profits. Remember with reversals we trade them as short-term plays, and if they do more then we happily accept the bonus!
