Its all about Timing!!!
- #139,190
- Sep 7, 2021 6:35am Sep 7, 2021 6:35am
- Joined May 2014 | Status: Full Time Trader | 27,132 Posts
{quote} Hi Ata, let me ask you a simple question: what does it mean to say bears or bulls "have the upper hand" in practical terms? Does it mean that you find it more of an edge to either buy dips or sell highs depending on which side of the market has the upper hand?
Bears having the upper hand means: For the time frame I am talking, price is below or near to STRONG resistance!
Bulls having the upper hand means: For the time frame I am talking, price is above or near to STRONG support!
*I use these expressions mostly when the majority of traders are convinced that trend seems to be at its strongest, but in reality that it might be actually reaching its end..
I hope it clarifies..
Focus only on what truly matters!
- #139,195
- Sep 7, 2021 7:26am Sep 7, 2021 7:26am
- Joined May 2014 | Status: Full Time Trader | 27,132 Posts
{quote} My main order from 1.18225 has to wait.. I will not close it because I know price will eventually come back to it or bounce back up close to it.. It always does.. My focus is on the scalper order (the 2nd order) that I opened at 1.1865.. I need to close it with profit, so I can keep opening new 2nd scalpers along the week.. (As many know I never have 3 orders running at the same time.. My max is 2) So far I have collected +26 pips with continuously opening and closing a scalper order since my main order got in trouble.. I want to keep doing...
*However, if price goes up, I will try to scalper-sell again as soon as I see an opportunity.
Focus only on what truly matters!
- #139,196
- Sep 7, 2021 7:32am Sep 7, 2021 7:32am
- | Joined Feb 2020 | Status: Full-Time Trader | 263 Posts
{quote} Damn.. this slow sideways progress has finally disgusted even an extremely patient trader like me.. Here I am giving up on my scalper (the 2nd short order) and close it at 1.1861 with +4 pips profit.. That way collected profit is now +30 pips since main order went into draw down.. My main short order from 1.18225 still has to wait.. If price just starts dropping right after I closed the scalper so be it.. I don't mind.. At least I will believe that I did all bears a favor
I hope that NY session will launch bigger volatility ( specialy that yesterday they were closed) and now after 1h candle closed finally under 200SMA i loooking for faster move to down, so you should be happy with your bear mood today
Everyone makes mistakes, but only few use equity management.
- #139,197
- Sep 7, 2021 7:36am Sep 7, 2021 7:36am
{quote} I hope that NY session will launch bigger volatility ( specialy that yesterday they were closed) and now after 1h candle closed finally under 200SMA i loooking for faster move to down, so you should be happy with your bear mood today
When the trumpet sounds, you won't be able to hear the techno anymore.
- #139,198
- Sep 7, 2021 7:37am Sep 7, 2021 7:37am
- Joined May 2014 | Status: Full Time Trader | 27,132 Posts
{quote} I hope that NY session will launch bigger volatility ( specialy that yesterday they were closed) and now after 1h candle closed finally under 200SMA i loooking for faster move to down, so you should be happy with your bear mood today
Focus only on what truly matters!
- #139,199
- Sep 7, 2021 7:54am Sep 7, 2021 7:54am
- Joined May 2014 | Status: Full Time Trader | 27,132 Posts
Price showing rejection, it happened with GU too. As soon NY session opened, I hope we can see more movement to downside.
Thanks for your cooperation..
Focus only on what truly matters!