It has to be said, this is easily the most frustrating business to be in... I've resisted the idea of having automated limits, because my EW wave counts and views are constantly changing, so i would rather keep the flexibility of chasing a profit with my Stoploss...
With that said, look at this for a set-up. I still use Fibs when and where i feel it applicable. Here we have the 61.8% retrace level of prior wave, simultaneously at a nice prior wick. Trend is down, so we are looking to get back onboard and a reaction at that level, would back up the idea that it is corrective to the Short (lower to follow);
I missed the ideal entry, but the way PA was printing, it was time to take the plunge and i was just in time.
The trouble is, for some reason this time i decided to be aggressive with my stoploss chase. Why, with all the evidence, i really do not know, cos this happened very shortly after;
I like to think that a profit is a profit and can never be a mistake once you've covered your original risk, but 'Ouch'!
With that said, look at this for a set-up. I still use Fibs when and where i feel it applicable. Here we have the 61.8% retrace level of prior wave, simultaneously at a nice prior wick. Trend is down, so we are looking to get back onboard and a reaction at that level, would back up the idea that it is corrective to the Short (lower to follow);
I missed the ideal entry, but the way PA was printing, it was time to take the plunge and i was just in time.
The trouble is, for some reason this time i decided to be aggressive with my stoploss chase. Why, with all the evidence, i really do not know, cos this happened very shortly after;
I like to think that a profit is a profit and can never be a mistake once you've covered your original risk, but 'Ouch'!
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)