zentauro67 wrote:USD Index monthly chart (showing a decade). Trendline suggests a big turnaround could happen next month. Be cautious milking dollar strength. Some room yet to play the game, but if trendline is respected we could see very bad news coming for USA economy at the end of the summer. EURUSD/GBPUSD could be near from bottom now.
kundanketki wrote:AUD/CAD making lower Lows and Lower Highs.
Bearish Pin Bar rejected Gold line resistance on H4.
Placed sellstop below bullish Pin Bar low.
Comments pls.
Thanks
Kundan
Nice setup. You put de SL in the same place I should do, just a few pips above the last swing high. I can´t see the TP, so I assume you are being ambitious and it is out of the chart. I should place two microlots orders at your entry. The first target should be 0.95219 (near last low), and the second few pips before WS2.
zentauro67 wrote:..., if trendline is respected we could see very bad news coming for USA economy at the end of the summer.
imo, should it not be put in inverse. " if bad news comes for USA economy, trend line will be respected." An economy is not to follow a trend line, rather the trend line fill follow the economy; just a thought. Cheers,
Thanks Mate.. 0.95200 is good support and a level from which price bounced up previously. have placed target at 0.95210. Was little unsure of the target. Learning the system yet.
zentauro67 wrote:..., if trendline is respected we could see very bad news coming for USA economy at the end of the summer.
imo, should it not be put in inverse. " if bad news comes for USA economy, trend line will be respected." An economy is not to follow a trend line, rather the trend line fill follow the economy; just a thought. Cheers,
I started fresh again this week, trying really hard not to fall in previous traps. It seemed to be an hard week, with nothing really clear or decided, the 4th of July in the middle and some sudden moves... As a result I had a few losses, and usually my losses are waaay bigger than my wins, but I kept going and really not doing the same as before, in other words, when a loss was almost hitting SL:
- I didn't move the SL further away hoping the trade would turn around in my favour
- I didn't hedge, trying to compensate the loss (when I do that what usually happens is that my trade turns into my favour and suddenly I have an impossible to recover hedge-trade making much worse results than the original one)
- I didn't rush putting extra trades in the same pair trying to quickly compensate the loss
In the end, letting the losses sink in and just continue with the plan was the most sensible thing to do (even if 2 of the losses were really, really stupid and unlucky... 3 more pips and the trades would turn around and become winning trades!).
The result is the following, which is the first time I have an all-green display like this, and that's why I am posting this!
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