Mtako - comments, suggestions, praise and especially criticism always welcome. Need all the insight I can get.
posted this update as an edit to my last reply but moving here as it was buried
stopped out - was up maybe 5 pips or so there last few minutes. Not sure why I didn’t close the short and immediately go long again. Past experience would have been I do that and then it keeps falling for the next 3 days and I’m trying to “catch the bottom” for that long I thought would happen.
edit - guess what I’m saying is looking at the current price I can’t ever decide if 2170 is the new “low” and support and buy some or is it still the top and resistance and great spot to sell some. I usually end up getting into a trade right in the middle and taking 50/50 shot
always wondered if there were some odds or stats of how often support / resistance holds or gets broken compared to each other. Like is support more often broken then resistance is pushed through. Not sure if that makes sense
edit: testing what I’m thinking. If I’m more confident that 2180 will get taking out today and 2170 needs to break through of course. But 2150 stands a chance of failing. Is it better to go long at the top right before it breaks through or the bottom where it could fail? I’m sure that makes not much sense as it’s basically saying buy at the top and sell at the bottom lol. Obviously my logic is key to why I loose more then when (usually)
small long at 2170
posted this update as an edit to my last reply but moving here as it was buried
stopped out - was up maybe 5 pips or so there last few minutes. Not sure why I didn’t close the short and immediately go long again. Past experience would have been I do that and then it keeps falling for the next 3 days and I’m trying to “catch the bottom” for that long I thought would happen.
edit - guess what I’m saying is looking at the current price I can’t ever decide if 2170 is the new “low” and support and buy some or is it still the top and resistance and great spot to sell some. I usually end up getting into a trade right in the middle and taking 50/50 shot
always wondered if there were some odds or stats of how often support / resistance holds or gets broken compared to each other. Like is support more often broken then resistance is pushed through. Not sure if that makes sense
edit: testing what I’m thinking. If I’m more confident that 2180 will get taking out today and 2170 needs to break through of course. But 2150 stands a chance of failing. Is it better to go long at the top right before it breaks through or the bottom where it could fail? I’m sure that makes not much sense as it’s basically saying buy at the top and sell at the bottom lol. Obviously my logic is key to why I loose more then when (usually)
small long at 2170
--post hoc ergo propter hoc--
1
!!
Though the FED already said they don‘t care. But who knows, market might not believe it.
