Getting stopped out more than I am used to with Oanda. Tight stops are not working. Now it is going in my favor. 2 positions got stopped out on the small spike above the 161.8.
Missed the bulk of the move. I should have gotten back in like I said. Why didn't I? Based on my limited understanding (much higher level math needed) of the butter fly effect this first little move reached exhaustion where I took profit. However, there is a larger fib that is being honored it looks like. Likely it will reach the 423.6 but now it is hitting another support of an even larger 61.8.
I should have measured the larger fib after taking profit from the smaller one to re-enter. Moving averages also converging. It bounced off the small fib 161.8 level that would have been the perfect re-entry.
Or, I could have just let it go and kept it a swing position. Looks like now that would have been best, since I didn't re-enter, but for scalping purposes re-entry is better.
Good momentum study I put arrows where I should have re-entered and added positions. I've been kind of hesitant with gold due to large position size, but that is good with enough predictable volatility.
Mapping the reversal. The ideal entry being where the arrow is. However this seems kind of risky on such strong momentum. It did exhaust the 423.6 from the short though.
The 423.6 and the 50 are in the same area. I put an arrow where I am looking to short depending on how price reacts to this level. I want to study the formation of the triangle after a big move.