Retest of 2940 seen twice now but this level is holding for now. We're up to 2938 again near the top of the range. Hourly studies are still bullish and there remains scope for a return to higher levels. Daily charts are deep in oversold territory and it is unlikely that we will see a break of the 100-day MA at 2875 so if I wasn't overlong already with an open loss $511 I would buy dips to here.
For now until the move is established and depending on the number of shorts that get left behind I'll just content myself with a reducing loss. For that to happen if it does go north 2 shorts have to hit TP as I'm net short 3-4 at the moment. If all 4 get left behind I will increase the lot size to compensate on the way up. Can it work? We'll see soon I hope. The ideal would be a drop to 2905 then a steady rise. Forex Gods - I've stopped playing poker - you listening?
For now until the move is established and depending on the number of shorts that get left behind I'll just content myself with a reducing loss. For that to happen if it does go north 2 shorts have to hit TP as I'm net short 3-4 at the moment. If all 4 get left behind I will increase the lot size to compensate on the way up. Can it work? We'll see soon I hope. The ideal would be a drop to 2905 then a steady rise. Forex Gods - I've stopped playing poker - you listening?
Do not focus on making money; focus on protecting what you have.