I need to clarify some thing here which I thought was obvious and haunt happened a great deal so its not really come up but have had an email from some one who had my address before i closed out email and Pvt messages
If we go short and that fails its because the price has broken our Stop loss which is point 1
As we know an up trend makes higher highs and higher lows so if our SL is hit on a short we can assume that the current trend made a higher hi and the trend is still in tact
2 reasons
Price made a higher hi
And that higher hi broke our stop and we lost
In the case of a loser i always look for a trade in the same direction...I trade counter trend so with a short that I lost on I look for another short because thats counter current trend
I hope that makes sense and it is the only time we can get short long long short or visa versa
cheers
P
If we go short and that fails its because the price has broken our Stop loss which is point 1
As we know an up trend makes higher highs and higher lows so if our SL is hit on a short we can assume that the current trend made a higher hi and the trend is still in tact
2 reasons
Price made a higher hi
And that higher hi broke our stop and we lost
In the case of a loser i always look for a trade in the same direction...I trade counter trend so with a short that I lost on I look for another short because thats counter current trend
I hope that makes sense and it is the only time we can get short long long short or visa versa
cheers
P