DislikedGeppy, I read your post in the Useless thread.. you said don't long until the support holds. At which point do you determine that it has held? By that time, wouldn't the price be much further away from the risk?
I longed with a tight stop on the first test. Learning from Gator, I enter as close to the risk as possible to minimise my losses and maximise profits. Just like to get your thoughts on thisIgnored
I don't pick up pennies in front of bulldozers. I go for 100+ pip swings almost ALWAYS. So, I guess if you're going for something like 20 pips, it's maybe not a bad approach.
But, we broke 2 ascending trendlines on Friday and I've been holding some hefty shorts since 1.2700 What basis does anyone have to think it's going to reverse?
There's nothing wrong with your trade and I agree, if trying to catch a falling knife, you should definitely do it at support.
Price action simply wasn't telling me that this thing is ready to turn around yet. Maybe it's just experience.
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