just wanted to update everyone on the trade I entered 7 weeks ago and posted here. I was a little too excited when price broke out of the yearly downtrend it was in. First thought was, "welp that ship left," which quickly ensued to, "hmm, sometimes it never revisits the station," and therefore emotionally pulled bought the ticket, as it fell I bought more at ridiculous levels to try entering at better prices. It was like gravity though, it just continually fell. All I want to share is that I believed in basic fundamentals like. support/resistance,...
{quote} In my analysis, I don't see that AUDCAD broke out of a yearly down trend. NewbTrader7 did not give any details of a plan, so we cannot comment on anything regarding that matter. But from what I see, it was essentially luck that price has returned to the 0.9100 level. We will see in a few more weeks if this is indeed the start of a trend reversal or if it is yet another rally leading to new lows in the downtrend. {image}
{image}{quote} we all choose to see what we want to see. posting from my phone so all I have are screen shots from yesterday but I can clearly see a downtrend was broken, followed by a retest, followed by a lower low, then a higher high, and a higher low, coupled with divergences on the daily, weekly, I mean need I really say more?
