- Battered and bruised badly here recently operating on weekly SHS top assumption. Risk built up to too large and strong uptrend on daily killed me.
- Confidence low. Can't stomach the swings on a weekly time frame anymore.
- So lower a gear and trading on daily chart now. Recent high 1.3233 taken out and we had a pull-back towards that level last night. Taken a long position here at 1.3246 with tighter stop than my normal weekly chart based. Position will not be held for as long as usual.
- At some point, I will revert to shorting on the weekly. Just trying to regain confidence and rhythm with a few quick (hopefully profitable) trades. Stop on this trade now moved to breakeven.
3 comments:
Stopped 1.3259
D'you mean you moved your stop up when the pair broke 1.33 and got stopped out on the subsequent reaction? At least it is a profit, but I know it feels bad to get whipsawed like this. I suggest don't trade, just watch the charts for a few days to get a feel for daily price action. With the weekly, one is too far away from the price action, and given the daily volatility, one has to trade on the lower time frame, or have millions in the account and minimal leverage.
Get a break from trading and come back refreshed. You will work it out.
Pandu
Long again at 1.3238
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