From.1.2085-90 level an intra day upmove might see which is purely a shortlived one..
Use it to short again only i feel.
Use it to short again only i feel.
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DislikedI need to go to bed, but I would like to get a position for the bull run in London session. But the bears might push the price down a little bit first. I just don't know how far down. But downside is limited due to upbeat risk-on bias stemming from Biden's stimulus plan and Powell's speech. So, I entered 1 long at 1.215. 2 more long limit orders at 1.2138 & 1.2125. TP = 1.22 Let's hope I wake up to green pips.Ignored
Disliked{quote} Well, it turns out that my original technical bearish view was spot on. But I ended up doubting it because of the fundamental news, and figured bulls would take over temporarily. The market's reaction to the stimulus news ended up being the opposite of what was mostly expected. Therefore, bearish technicals win the day. As for me, I'm holding onto my longs with a drawdown strategy, expecting a good pullback next week, possibly up to 1.22+ I entered a 4th position at 1.20965 on the way down. And a 5th long limit order pending at 1.2075. TP...Ignored
Disliked{quote} Well, it turns out that my original technical bearish view was spot on. But I ended up doubting it because of the fundamental news, and figured bulls would take over temporarily. The market's reaction to the stimulus news ended up being the opposite of what was mostly expected. Therefore, bearish technicals win the day. As for me, I'm holding onto my longs with a drawdown strategy, expecting a good pullback next week, possibly up to 1.22+ I entered a 4th position at 1.20965 on the way down. And a 5th long limit order pending at 1.2075. TP...Ignored
Disliked{quote} Entered 5th long at 1.20799. Avg position = 1.2118. It looks like we have hit bottom. If it looks like it's capping before I get to BE then I'll close with a small loss. But this is likely a bear trap. Good possibility for retrace up to mid 1.21s or higher. Another option I have if I simply can't prevent margin call before we hit bottom, but there is a good possibility of a retrace, is shave off a small portion of my position for a loss. But that can be devastating if the bottom keeps falling through. I hate that idea... Done it before,...Ignored
Disliked{quote} Entered 5th long at 1.20799. Avg position = 1.2118. It looks like we have hit bottom. If it looks like it's capping before I get to BE then I'll close with a small loss. But this is likely a bear trap. Good possibility for retrace up to mid 1.21s or higher. Another option I have if I simply can't prevent margin call before we hit bottom, but there is a good possibility of a retrace, is shave off a small portion of my position for a loss. But that can be devastating if the bottom keeps falling through. I hate that idea... Done it before,...Ignored