DislikedUSD/CHF remains in a lt wedge. Looking for a possible breakout at the 8550 area, but who knows. Divs are showing up.
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If its going up, its going up. If its going down, its going down. The only thing in between is the bounces and the only thing at the end is a reversal.
Logic:
1. Loss if it continues -1
2. Profit if it bounces +1
3. Profit if it reverses +1
Result:
-1 +1 +1 = +1
Risks:
1. Miscalculation of the size of the bounce (both for tp and sl)
2. Incorrect marking of support/resistance levels
3. Entry at inappropriate level and time
4. Glides through more # of s/rs than the # of s/rs it bounces from
Risk Management:
1. Small positions
2. Do not go for a very big move (only moderate sls and tp sizes)
3. Rely only on major support and resistances for bounces
4. Do not worry.
The Thief of Wall Street