Got some pips on this GU short on a 30M display. (edit: 1410 pm - First rule of trading as Lefarve reported Livermore's pals informed him is 'Don't be a sucker.' An important principle thereof is to not chase price. Since GU has broken below major inflection prices on the monthly and quarterly charts, it seems to me like chasing to short and hold, so it treated this as a scalp. I expect GU to wash and rinse several times before it bounces or sells down towards 1.43. The major news releases affecting GBP tomorrow morning 0530 ET will afford ample opportunity for primary dealers to mark it up and down. Should be fun. Gotta get up extra early.)
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- Edited 3:20pm Mar 17, 2015 12:51pm | Edited 3:20pm
- | Joined Feb 2009 | Status: Member | 286 Posts
- Post #26,482
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- Mar 17, 2015 4:08pm Mar 17, 2015 4:08pm
- Joined Aug 2009 | Status: Reading the TAPE | 2,334 Posts
Wyckoff VSA: (1) Supply & Demand (2) Effort vs. Result (3) Cause & Effect
- Post #26,483
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- Edited 12:39pm Mar 18, 2015 12:27pm | Edited 12:39pm
"Never Take a Trade You Don't Understand!" - Pres78
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- Mar 18, 2015 3:50pm Mar 18, 2015 3:50pm
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Hunting High and Low
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- Edited 2:34pm Mar 19, 2015 9:40am | Edited 2:34pm
"Never Take a Trade You Don't Understand!" - Pres78
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- Mar 19, 2015 11:52am Mar 19, 2015 11:52am
The loss was not bad luck. It was bad Analysis - D.Einhorn
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Today's zone = Tomorrow's opportunity!
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- Mar 19, 2015 1:16pm Mar 19, 2015 1:16pm
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- Post #26,490
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- Mar 19, 2015 1:30pm Mar 19, 2015 1:30pm
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Wyckoff VSA: (1) Supply & Demand (2) Effort vs. Result (3) Cause & Effect
- Post #26,491
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- Mar 19, 2015 2:48pm Mar 19, 2015 2:48pm
"Never Take a Trade You Don't Understand!" - Pres78
- Post #26,492
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- Mar 20, 2015 12:07am Mar 20, 2015 12:07am
The loss was not bad luck. It was bad Analysis - D.Einhorn
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- Mar 20, 2015 6:17am Mar 20, 2015 6:17am
The loss was not bad luck. It was bad Analysis - D.Einhorn
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- Mar 20, 2015 1:48pm Mar 20, 2015 1:48pm
"Never Take a Trade You Don't Understand!" - Pres78
- Post #26,497
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- Mar 21, 2015 12:45am Mar 21, 2015 12:45am
The loss was not bad luck. It was bad Analysis - D.Einhorn
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- Mar 21, 2015 2:48pm Mar 21, 2015 2:48pm
- Joined Aug 2009 | Status: Reading the TAPE | 2,334 Posts
Wyckoff VSA: (1) Supply & Demand (2) Effort vs. Result (3) Cause & Effect