It's been a bit. I think my last idea was a sell idea? either way. that's past. currently, the money's moving in a sell. so far, the market has been respecting the resistance trendline. The ichimoku cloud is showing a sell. it's also showing a turn to a buy briefly, but i don't think it is, unless you're a good scalper, and could trade the pullback. The ADX and DI- signals are over 20, and the PSAR still shows downward momentum. I was in this sell for a while. seems to be going and going. I'll still keep and eye on it though.
(Nope, I can't just use price action. I'll use it. It has helped me since I focused on it, but I'm definitely more comfortable with my analyses with the indicators)
(Nope, I can't just use price action. I'll use it. It has helped me since I focused on it, but I'm definitely more comfortable with my analyses with the indicators)
Trade closed: stop reached:
Woof! So my analysis was off. I expected it to continue down after consolidation. Seems like the resistance was weaker. But it makes sense. Lesson 1) The more a level is tested, the more likely itll be to break. Lesson 2) If you look at the ichimoku cloud, it predicted it. We saw strong downtrend (cloud is red) then it started to move sideways. Which is why i concluded the consolidation. Now it looks like the cloud has flipped, or is beginning to flip, to green. Maybe uptrend? Likely. But the cloud has been known to have short term flips. But yeah, this last trade went againt me. Post trade Tip- . reevaluate your analysis. make your nores and adjust to suit. Check news. Learn the tips in recognising a stop hunt early on. Sometimes it's on you. But not always. Don't worry. On the other hand, the reverse is true. Don't get cocky