Hi all
I just thought i would post and inform that my GBUS trade failed and try and see why?
1. In hindsight the trade was not at a swing high or low on the daily which stuck out more tha all around it. This is my main gripe with this trade.
2. 50 was horizontal. 20 was desending towards it but becoming very near. Does this show uncertainty in price?
3. The power of the 154.60 R has been spot on over last 10 or so bars, so it apppears my S&R on this occasion was correct.
4. I still see both BB and B as being in an immediate down trend.
5. Trade although triggered beyond boss 20, was into it and it had resisted price previously.
I lost 2% on this trade trading three 3 seperate lots.
I feel we can learn more from a looser than a winner and gradually cut out bad trades, although it is all a matter of probability and the big boys can influence the way price moves.
Any thoughts or feed back would be appreciated.
PS eur us trade is still running some profit locked in and at BE, i will feedback on this when complete.
I just thought i would post and inform that my GBUS trade failed and try and see why?
1. In hindsight the trade was not at a swing high or low on the daily which stuck out more tha all around it. This is my main gripe with this trade.
2. 50 was horizontal. 20 was desending towards it but becoming very near. Does this show uncertainty in price?
3. The power of the 154.60 R has been spot on over last 10 or so bars, so it apppears my S&R on this occasion was correct.
4. I still see both BB and B as being in an immediate down trend.
5. Trade although triggered beyond boss 20, was into it and it had resisted price previously.
I lost 2% on this trade trading three 3 seperate lots.
I feel we can learn more from a looser than a winner and gradually cut out bad trades, although it is all a matter of probability and the big boys can influence the way price moves.
Any thoughts or feed back would be appreciated.
PS eur us trade is still running some profit locked in and at BE, i will feedback on this when complete.
PASR student.