Guys, \
Today should have been a no brainer for you. We were sitting up against heavy resistance , on the edge of the end of the wedge, Very Very over bought and had been for an extended period of time. This chart is what I di this morning when I woke to this situation and the support & resistance lines I have decided on. I put buys in around the first major support and then more in case of further dip at the next, to average down if it fell. The short was a quick trade, no morethan an hour, I trailed with some distance my stop to keep profit, in case of a swing back and am now sitting relaxed and confident. Can this go pear shaped, sure but I have done everything I have set in my trading plan, it makes these trades so much easier to live with, actually this trade I am happy to go off and not watch.
Hope you are doing well today, remember this is not investment advice and I don't ever recommend you trade with research and knowing your entry, exit and complete plan from start to finish, otherwise things do go pear shaped. Remember what we have discussed and have fun, keep risk in hand.
Thanks for dropping by, hopefully, you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help.
Trader, Chart analyst and all round larrikin. Reside in NQ Australia, surrounded by Crocodiles, snakes & giant spiders, not to mention the boxing Kangaroos and devilish Drop bears. It makes my job quite hazardous but strewth mate, I love it.
Today should have been a no brainer for you. We were sitting up against heavy resistance , on the edge of the end of the wedge, Very Very over bought and had been for an extended period of time. This chart is what I di this morning when I woke to this situation and the support & resistance lines I have decided on. I put buys in around the first major support and then more in case of further dip at the next, to average down if it fell. The short was a quick trade, no morethan an hour, I trailed with some distance my stop to keep profit, in case of a swing back and am now sitting relaxed and confident. Can this go pear shaped, sure but I have done everything I have set in my trading plan, it makes these trades so much easier to live with, actually this trade I am happy to go off and not watch.
Hope you are doing well today, remember this is not investment advice and I don't ever recommend you trade with research and knowing your entry, exit and complete plan from start to finish, otherwise things do go pear shaped. Remember what we have discussed and have fun, keep risk in hand.
Thanks for dropping by, hopefully, you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help.
Trader, Chart analyst and all round larrikin. Reside in NQ Australia, surrounded by Crocodiles, snakes & giant spiders, not to mention the boxing Kangaroos and devilish Drop bears. It makes my job quite hazardous but strewth mate, I love it.
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Iniial estimates were a little conservative but still on track
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Ouch, blood everywhere. She went a lot further than I expected. IF your leverage was low and you are still in, I would not advise selling the bottom. My stops were hit a long time ago.
