i have bias to believe that the market will go long, and exiting at target before it dips back down. overall it appears that downward momentum has been broken, and price will trend up. this is a short duration long trade.
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Just would like to add that I analyzed the monthly, weekly, and daily, for top down analysis
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At the moment have gained 22 pips. Let's hope to it continues to rally, if not, no worries - I've kept my risk management to an acceptable level.
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appears to be in the green, and I've considered moving my stop, but according to my trading plan that's no ideal due to fluctuations, and moving my stop deviates from my current plan. being a new trader I am definitely starting to feel the emotions, but knowing that I have a plan and having that awareness is absolutely helpful and key in making me disciplined enough to know to let my trade run, as well as verifying I have stops and another line of defense, my stop.
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another line of defense, my lot size*
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closed the position at less than ideal conditions, but did that due to a possible bias that price will go back downwards, and i am enjoying the action quite a bit, i must say. I believe my style is leaning towards more intraday captures versus longer timeframes, I'm not exactly sure where I will go from here.
closed the position at less than ideal conditions, but did that due to a possible bias that price will go back downwards, and i am enjoying the action quite a bit, i must say. I believe my style is leaning towards more intraday captures versus longer timeframes, I'm not exactly sure where I will go from here.