Dear Traders,

As in any other successful business, strong discipline is a prerequisite for a trading profit. It means that sometimes, traders should be very patient in order to achieve high results. If there is one thing that trading has learnt me is how to be patient. I believe that this is the hardest thing to master and is deeply ingrained in the psychology of winning. That is why, I know that in order to be successful at trading, you should not trade excessively for the sake of trading, but trade only those setups that most closely match your requirements. Having said that, I believe that the trader’s psychology is the most important prerequisite for success.

Let’s bring our attention to GBP/USD now. There is a long opportunity in this pair. A daily bullish engulfing pattern is giving us a green light to go and buy this pair at current market levels with a stop under 1.5990.

Happy Trading,

Colibri Trader

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