DislikedI feel sorry for ur loss,Vinesh.
The GJ will retrace back up now thro the night in asian session.
I look to see at least 219.15 which is the 23.6 fib retracement of this move down. Since the factors are very bearish ,i am a bit skeptical of 50 percent retracement.
Not trying to pick a bottom but see that it bounced off twice at 216.50.
So likely that gonna be the bottom for the day and downward move will likely start at Frankfurt /London open.
I am not sure to what it will retrace to but retarce for sure to, at least, 100-150 pips. The logic defines that it should retrace by that amount ,at the very least.
Went long @ 216.59 with tight stop and proper MM. I see little risk @ this point.
SriIgnored
there is always risk..... we all want vinesh to rebound....but please refrain..from saying things like litttle risk,....maybe say its a good risk reward proposition in my opinion based on my analysis..... we ALL can and have been wrong even when we thought it was little risk scenario..... vinesh ... just have faith...there is always tommorow and the nest day.... if we all learn from our mistakes and get better at trading and money management we can make up any losses in time.... there will be more opportunities in the future..... YOu can do it...... For example the eu short that quecee mentioned.... did u look at it? have you anlyzed it YOURSELF...regardless of what others think? do you have a system you are VERY confident in yet? I think you held that long trade because of someone in another forums anlysis rather than your own (I saw you in that thread).... its ok ... no big deal we all have... but YOU are better than that ... I've read your posts.... I've learned from YOU..... no egos allowed in trading... that guy you were influenced by got a big ego because he was so succcessful in 2007 on his longs and he led you astray....just learn from it.... I hope I am not being presumptuous and you take this the right way..... its just that even great traders can be wrong...so trust yourself..and if you are not sure dont take the trade..... the other day uncleforex and myself disagreed on the direction of EJ ( I loved my short) he pointed out things that were bullish.... EVEN the mighty queecee has been wrong (Rarely) but still..... I really am a fan of yours and am pulling for ya ... have faith and it will all work out.... remember when things are bad they can only get better!