I just closed my long trade after seeing a strong move to the downside, Im now expecting a short fall.
Price has swept the highs of the week and has failed to hold them.
This may be a luquidity grab, however im willing to take the punt on it.
Again, i dont use physical stop losses however my visual stop is at the high of today.
Price has swept the highs of the week and has failed to hold them.
This may be a luquidity grab, however im willing to take the punt on it.
Again, i dont use physical stop losses however my visual stop is at the high of today.
Trade active:
My visual stop loss is now located around the 18371.5 price area.
This is because price has tested and rested at this area a few times and for most of the day, Meanwhile it continues to move and take out lows before returning high again.
Prica may drop, However id imagine that if it does, we will see this on monday as the move to the downside will likely be a sharp fall, Much like the rally that brought us to these highs.
If the highs get taken then theres a high chance that price will come back to these levels before taking off.
This is because price has tested and rested at this area a few times and for most of the day, Meanwhile it continues to move and take out lows before returning high again.
Prica may drop, However id imagine that if it does, we will see this on monday as the move to the downside will likely be a sharp fall, Much like the rally that brought us to these highs.
If the highs get taken then theres a high chance that price will come back to these levels before taking off.
Comment:
Looks like price has tested and is showing signs of rejection at my stop level. Will continue to keep an eye on it to see if its going to continue to reject or pop the top
Comment:
18388 is my new visual stop area. After that rejection from that area, anything that pushes above it will likely continue to push higher
Comment:
wouldnt be surprised if this is the last of the pressure from the bulls.
Expecting a futher rejection from this level leading to a sharp fall to or below the current low of the day
Expecting a futher rejection from this level leading to a sharp fall to or below the current low of the day
Comment:
Rejection happened, This has now given a clear area for my stop loss. if price pushes the current high then i will be reversing for break even or very small loss.
Im anticipating that the bear push will continue to the lows of today, By around lunch time tomorrow.
Im anticipating that the bear push will continue to the lows of today, By around lunch time tomorrow.
Trade closed manually:
closed the short for -0.03%
As usual, reversing postion.
As usual, reversing postion.
Last 4 trades have been rough... Lost 0.80% then 0.92%, But made 1.56% and now looking like another potential loss.
Still up on the month, however this is shaping up to me my worst month of the year so far -
My average return has been 6.7% per month at 1% risk (13.4% per month risking 2%) This month, before this trade, has sat at around 3% (6% if risking 2%)