{quote} The plunge was unexpected. Having taken out some longs earlier, now, fully hedged and up 16% weekly. Looks like it will keep the down. Doing nothing for now. Edit. I had high hopes for my heavy long yesterday, like +100% hopes. I was prudent enough to TP reducing the long and setting buy [sell] stops. Now I went slightly net short. Let's see. 08:10 ST. I still believe today's down is a tactical expedient and that we'll retest area 1.15. So I'll drop the net short at new low and wait for a fresh reversal point to take it 1.15
My trades since Asia.
Short from 1.1421 Tp 1.1387 Done deal (ieverse cup and handle)
Long from 1.1387 1st entry 1.1365 2nd entry (Triple bottom)
waiting for H1 to close above 1.1409 and next 1.1422. 1.1504 is reachable.
TP 60% @ 1.1476 40% @1.1504.
Getting exciting. Valid till NY close
Short from 1.1421 Tp 1.1387 Done deal (ieverse cup and handle)
Long from 1.1387 1st entry 1.1365 2nd entry (Triple bottom)
waiting for H1 to close above 1.1409 and next 1.1422. 1.1504 is reachable.
TP 60% @ 1.1476 40% @1.1504.
Getting exciting. Valid till NY close
- #144,050
- Jan 18, 2022 4:51am Jan 18, 2022 4:51am
- Joined May 2014 | Status: Full Time Trader | 27,132 Posts
Quick Revisit to Weekly Levels
- Based on next week's levels, we should be aware that bears have the right to retest previous lows anytime they want, while candles are still below my GREEN ma line..
- My nearest potential retest level sits around 1.1313 (what a lucky number eh?
) - Since candles are now above the median line of falling wedge I see every major dip as an opportunity to buy low.. *Getting solid confirmation before buying is key though! Have common sense!
- Assuming that bulls won't waste too much time around 1.1300 area, we could anticipate 1.1565 area as their primary target.. But don't forget: this is the weekly chart.. Things can take time!
I hope it helps 
Focus only on what truly matters!
- #144,055
- Jan 18, 2022 9:08am Jan 18, 2022 9:08am
I took my first trade in like literally 2 months 4 days ago since I had absolutely no idea what the market was doing at the time and went short at 1.1465
Actually finally in winning trade for the first time in a while
I'm thinking this will drop eventually to below 1.12, but will probably make a low + high on its way. Then, I will look to long somewhere below 1.12. Envisioning something like this
Actually finally in winning trade for the first time in a while
I'm thinking this will drop eventually to below 1.12, but will probably make a low + high on its way. Then, I will look to long somewhere below 1.12. Envisioning something like this
- #144,059
- Jan 18, 2022 10:37am Jan 18, 2022 10:37am
- Joined Sep 2018 | Status: Trader Man | 2,123 Posts
"No pain no gain"
