Hey Sive,
Is there any particular reason why you have been choosing 50% retracement as an area of good potential support?
If I recall correctly from your previous video, you stated that you expect market to make an AB-CD retracement on daily down to POSSIBLY 50% of whole thrust up (1.2600). And previously, you also took 50% of most recent thrust up on daily (1.2840) and obviously it has been solid support and even went up to 1.3030 from that 50%.
So, my question is, why is it that you keep taking the 50% retracements? Do you usually do this after a huge thrust up or down?
Take a look at my chart. Without your guidance last week to tell us to watch out for 50% support (1.2840), I probably would have placed buy orders at k-support (1.2740) which would have NEVER been hit
OR
I would have placed buy order at 3/8 support on daily (1.2901) which would have eventually gone down another 100 pips before starting move up.
Obviously my tactics would not be very good because I would have either
1) missed the entire trade if I placed order at k-support (1.2740) or
2) be nervous the whole time because market would eventually drop another 100 pips.
Looking forward to your reply, Sive.
I sincerely hope you and your family have a great weekend.
Take care, my friend.
Brandon