My plan is:
Daily trend is bulish so I dont want to risk much on short positions. I sold at 1.27 and 1.618 of butterfly with small positions. Stops are about 40 pips higher, above the 0.618 resistance on H1. If I will have the chance I will move them to BE. If not, I will take the loss and move on.
I think most people are expecting some strong downward move to come soon, and could possibly start a sell of rally at the auction result release/s - As sive says there is more probability of downward move due to price action....... although technical trend is trying to reverse upwards I personally do not think that will happen. Also to reiterate our long term target is still FAR below now.....
sold a little bit higher than you pragmatic (2732), same plan basically. glad asif you feel mischievous. i wish i could say the same. right now i wish i hadn't closed my long so early and entered short too early. market seems well supported on those small pullbacks... today i don't know what to think anymore.
LOL asif, i hear you, but i can't just follow what sive says. i got to think about it and then incorporate some of it with some of the structure i use if it makes sense to do so. but my main issues are really issues of timing and learning to not get married to a position, basically. levels, usually i can identify, except when it is some weird microscopic butterfly hiding on the M15 like today.
guys, market has not touched 61.8 level yet AND on H4, although MACD has crossed bullish, williams %R does not confirm yet as it has not crossed the -50 level. so... maybe we'll see a touch and reverse to the downside from 61.8. but if auctions are good, then i guess 2800 it will be. thoughts?
Lordy-lord...I see some of us (not wanting to name names) have jumped in either too late or too early...Luckily for me, I came into the market late...had to swim across a river, swing through the tree tops just to get to the market, and the animals traffic jam was simply horrible too ...so guys, did I miss anything????
Hmmm...oh well, I guess it must be okay then that I entered short at 1.2768;right????