Removing the buy limit, too risky if it breaks the low. Again why did it not hit it to the pip? Is is simply as chaos theory says that the initial butterfly fib was not perfect? What causes price to fall just short of the level?
Although not as perfect, this pattern is similar to the EUR/GBP cup and handle that gave me so much trouble trading against it. Watching. I want to see if it continues it's curve and how to trade these patterns successfully.
Tempted to take profit here but the longer term pattern sways me otherwise. It's a $10 risk of loosing profits at this point, moved stop to breakeven. I think it will range a little before another spike up past the trendline or hopefully continues short. It's worth the risk considering the monthly overboughtness.
Fresh look at gold on the monthly. Again, just shy of the fib level. Is this really where it reverses? It has room up. I should have placed a buy where I took profit for the shorts on both gold and silver.
Why did it break the 423.6? I have to determine how much play there is when it hits these levels for proper stop placement. Looks like its following the cup pattern at support still.
Trading BTC is a necessity with this account, so far so good, I picked the very top of the wave to short. Gold and silver have support levels. Long, perhaps this parabolic spike will continue on a bounce. If not, the risk is low, stops just bellow support. Not huge stops but if support breaks they will trigger. Small enough to get back in with a better long later if it spikes further down.
