Brief Analysis The breakout of the daily ascedning triangle , heralding the weekly H&S BO has been rocky indeed! It takes a closer look, and a critical thinking to see this.
Actual BO of Daily = sept7, 2016 Sept 22 saw massive bear action but bears lacked follow through selling. Sept 28 --- following crude oil deal ---- saw similar bear action but seemingly failure en route. And so,
Action plan Come monday, NY close, and price is not at 0.94144 = I wud go long, following risk management rules as enshrined in my trading plan. For my information --- two things here (1) Daily Anticipatory triangle (2) weekly H&S
weekly
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Fresh longs loaded Next = Sit back and take some loss if it doesnt go well. I control risk, not profit ;)
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I'm cutting down losses on this trade based on a trigger which seems to have distored the orderliness of price advance. Estimated loss = -0.6%
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CORRECTION: I'm cutting down losses on this trade based on a trigger which seems to have distorted* the orderliness of price advance. Estimated loss = -0.6%
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Better to take the blow early, bow your head in shame, call the short a quit than to keep staying in, and hoping, and sustaining further injuries ;)
If it goes up later rather, I'll reassess situations, and consider if I wanna be a buyer again.
TOTAL LOSS PER POSITION AVOIDED!
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Would price find support w/ Sept5 Low.....? 0.94326 CRITICAL!
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I continue to feel glad for money management rules ;) I actaully flipped and short upon BO of critical price
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short working well
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Victor.Y.F
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Thank you! GDT price is dropping this pair could go lower with gold.
moorekapital
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Thanks, Victor. See these levels I marked CRITICAL --- looks holding price, atm. If broken down = Massive drop. Until then I'll sit on ma hands. I'm glad my bar by bar analysis told me to gerout and I did = -0.6% . Flexibility is the hallmark.
jangseohee
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moorekapital
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THANK YOU, DIRECTOR. Yes. This is possible. I mean, regarding the fact that the smooth advance of price organisation has been distorted. Here, I choose to refrain from citing some economic news , fundamentals, and this and that and all that whic caused this event to unfold --- the possible downturn. For me, I think in bars only ;)