Hi: It is difficult to understand whether we are still in range or breaking out. I use patterns like flag, momentum etc to identify this....In your bad long trade case, it was obvious because there were bad news coming out of Europe and the downward momentum was picking up..
Let's try to predict when will you close your shorts in this current down move.. It is clear to me the direction is still south. I would not even think about longs at this point.. so we are still in SELL short term (guess it is the right sisse language).. We will follow this and see if we can identify the sentiment (outlook) change (Hopefully around the same times as sisse)
The sentiment sisse put out is invaluable, I can tell you the organizations like the one i am working employ machine learning/predictive analytics engineers to go through all kinds of data (social media data, market data, etc) to identify this on a daily basis.
Let's try to predict when will you close your shorts in this current down move.. It is clear to me the direction is still south. I would not even think about longs at this point.. so we are still in SELL short term (guess it is the right sisse language).. We will follow this and see if we can identify the sentiment (outlook) change (Hopefully around the same times as sisse)
The sentiment sisse put out is invaluable, I can tell you the organizations like the one i am working employ machine learning/predictive analytics engineers to go through all kinds of data (social media data, market data, etc) to identify this on a daily basis.
DislikedYou are 100% right, before you even wrapped up your long winded explanation I saw the error...I realized I mapped out a great short trigger, and a target that was inline with 1.08xx, and then at the last moment I was swayed to try and catch both sides because I felt that a bounce should happen before target. In essence, I did exactly what you said towards the end of your write-up {quote} I placed my faith in mofu more than direction- and I knew better than to do it, yet fell on bad habits. Thanks for your post! Invaluable. BUT That leaves one burning...Ignored