Hi everyone.
I had a very frustrating session yesterday. I was late to the open, then messed up a continuation trade down after a new 2B was confirmed on the 10 pip chart. The reason was that I was looking for a potential continuation up at fib level...didn't happen. And I was slow to spot the 2B.
I then hoped for a 123 down to form based on the 2B, which also did not happen.(2XBE) The save of the day was a Jaquemate style trade to DOL with 2 lots.
When I look at the chart afterwards, i now see that instead of thinking too much, I should have accepted the proven fact - that we were in a range. This was proven, in my view when the market could not make new highs(2B) and hold them, and when the same (2B) failed to produce new lows/follow through.
If you look at HHLLHLLHs, you also see a clusterfu#k. This was an ideal time to pull out a 3 pip chart and range trade, as the range was, in my opinion, established. But all of that falls into the category of should have, would have, could have.
Anyway, the range has produced what appears to be a wedge, so we will see what Friday brings. The weekly indicates a TL break.
Best, Josh
I had a very frustrating session yesterday. I was late to the open, then messed up a continuation trade down after a new 2B was confirmed on the 10 pip chart. The reason was that I was looking for a potential continuation up at fib level...didn't happen. And I was slow to spot the 2B.
I then hoped for a 123 down to form based on the 2B, which also did not happen.(2XBE) The save of the day was a Jaquemate style trade to DOL with 2 lots.
When I look at the chart afterwards, i now see that instead of thinking too much, I should have accepted the proven fact - that we were in a range. This was proven, in my view when the market could not make new highs(2B) and hold them, and when the same (2B) failed to produce new lows/follow through.
If you look at HHLLHLLHs, you also see a clusterfu#k. This was an ideal time to pull out a 3 pip chart and range trade, as the range was, in my opinion, established. But all of that falls into the category of should have, would have, could have.
Anyway, the range has produced what appears to be a wedge, so we will see what Friday brings. The weekly indicates a TL break.
Best, Josh