Daily Triangle BO --- Anticipating the Weekly H&S BO
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
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
註釋
Fresh longs loaded Next = Sit back and take some loss if it doesnt go well.
I control risk, not profit ;)
註釋
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%
註釋
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%
註釋
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!
註釋
Would price find support w/ Sept5 Low.....?0.94326 CRITICAL!
註釋
註釋
I continue to feel glad for money management rules ;) I actaully flipped and short upon BO of critical price
註釋
short working well
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