Hi Ted
I missed the GBPCHF trade as when I read it the first time I thought you decided against it because it was trading around all time lows. Missed the next sentence which said you took it.
As for entering near all time lows, it can also be seen as a very strong indication that the trend down is very, very strong, but maybe when at this level it would be more prudent to trade it as a breakout below the all time low???
Thats what I will do I think put an order in at say 1.2975 and play the breakout or maybe I should wait for break and retest then enter with tighter stop behind 1.3000?
Your thoughts on that please?
Thanks for a great thread I am definately looking at longer term charts now alongside my day trading strategy.
I missed the GBPCHF trade as when I read it the first time I thought you decided against it because it was trading around all time lows. Missed the next sentence which said you took it.
As for entering near all time lows, it can also be seen as a very strong indication that the trend down is very, very strong, but maybe when at this level it would be more prudent to trade it as a breakout below the all time low???
Thats what I will do I think put an order in at say 1.2975 and play the breakout or maybe I should wait for break and retest then enter with tighter stop behind 1.3000?
Your thoughts on that please?
Thanks for a great thread I am definately looking at longer term charts now alongside my day trading strategy.
Feel the Fear and do it anyway!!!