- Apologies to jeffwarbus and anyone else reading blog who had not been given a true picture of my long USD/CAD trade due to laziness on my part.
- As per original post for USD/CAD trade, was stopped out at 1.0960 but did not record that here.
- Subsequently re-entered long trade at same rate (1.0960). Why?
- Because of high conviction level in my favorite trading pattern = periscope-like pattern breakout of a long consolidation band. So I was prepared to give trade another go, and did.
6 comments:
Sold another 1/3 at 1.1185
Left with 1 unit (from 3) now. Buy break of 1.1122 and also on setbacks.
+1.1128 (long 2 units now)
Thanks TS! Appreciate you sharing your thought process. Periscope breakout is one of my favourite signals.
Yes. Periscope
= Long period of consolidation + sudden strong break
= change in fundamentals/market perception + plenty of people still caught with stale old positions the opposite of the breakout direction
= fresh momentum
+1.1121
Long position back to original 3 units now.
+1.1079
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