{quote} bro your RR ratio not that good. risk 133 pips for potential 60?
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- #127,664
- Mar 1, 2021 7:04am Mar 1, 2021 7:04am
- Joined May 2014 | Status: Full Time Trader | 27,259 Posts
Focus only on what truly matters!
Added more to my short at 1.2053 , I have a feeling this can be yet another M pattern. The whole consistent up move looked artificial to take out shorts and that sudden drop back to a slightly higher high and the fact we didn’t shatter that high are all clues for a potential M. if this drops, well make yet another big down move. I have a 5 pip Mental stop to cover the extra I added and to take out some profit before entering short higher. If this drops, it’ll go much deeper down before considering to have the first REAL pullback IMO
Meanwhile, we have this longer term support line that has reacted a few times in this down trend that was just recently violated, and it has whipsawed above and below. It's almost right before US open.
My guess is that
1.) We will see either a drop directly from where we are at to make a new low, and that new low will be the official pullback/reversal point
2.) We will break this resistance line once again so that the US banks can get in on the short, and the market will just keep riding down.
I personally believe this situation to be 1, I'm still holding my short from 1.2126. Gooduck everyone
For my TP, I want to see how price reacts to 1.2025 area before I consider covering and switching long for a pullback.
1.2048 is aggressive sell level on M15 and currently being tested but I skip selling there because imho still not worth it while volume is so low.. Zzzzzz...
I guess you'll sell now if it re-tests the area?
- #127,670
- Mar 1, 2021 7:59am Mar 1, 2021 7:59am
{quote} I think low volume just means the big whales are waiting patiently for the market to go the wrong way first so they can get a better entry
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