Disliked{quote} I did as well. this pair rallied almost 90 pips in 1 hr that means. fucking manipulated pair.Ignored
Not concerned about the PA response at these levels or the type of news associated with the PA response. I am concerned about granny Yellen and what she may say but I think she will begin to comment in an hawkish fashion from now till Oct)
Can I teach a bit? No offense to anyone....
Why am I short?
I trade Daily and Weekly charts.... from time to time I post fast and intraday charts (especially when I'm looking to enter a position trade don't follow these calls of mine I'm a position trader / EOD end of day trader and so my position sizes are smaller than an intra-day traders and my risk tolerance is higher 5% not 2%) my event horizons are long (weeks to months not days or hours)
I'm trading the double top and extensions I've mentioned my targets and I've posted charts. Criticise all you want please but remember I only need to make 4% capital increase per month to be successful at what I do... So I only open or close trades a Maximum of (maybe 4 times per month)
My fellow position trader and human development apostle friend trade differently (I'm a pure technical trader HTF - high time frame) he has a different strategy (which I now appreciate but don't fully see - if you can't see it don't trade it)
I remain short to 1.7 and have 1.691 as an extension @ 1.7 I will take 50% profit of my first trade.... which will also be a 4,2% increase in capital 1.69 is 10%
My total account risk has risen from 0.02% to 0.12% as a result of entering this short I'm still at less than 0.24% account risk because this trade is counter trend and my dealing costs are presently 0.1% of my current profit. I am therefore comfortable to hold...
My SL is as argued by GM 350 pips this is equivalent to 2% of my account risk, I have 2 other open trades and having averaged up into GU will not open other trades until my "other trades" close SL or TP or GU does same....
This behaviour is arguably more profitable than intro-day trading.
Run your numbers see if it works for you but remember this...
Trading is a discipline not an activity
Trade safe my friend