The previous trade was almost perfect, just got unlucky a bit on the Sunday opening of a week ago, where many FX made big gaps during the the opening. Half of the short term position got hit at the stop (around BE) and the rest got sold at the target. The swing trade is still running and as i posted in my last update, i closed 30% of that one as well around the low to open it again at higher prices. I did this, because we made quite the dump eventually and i thought it was worth closing some since markets usually move in waves. If i would be wrong about the bounce up, i would still have 70% running which i could always increase again if i wanted to. Like now that it worked out, i have financed my stop loss for the big trade. Meaning if the stop gets hit, i will still be at break even with the potential of a very big win.
Anyway, we have reached a point of resistance now, which i think is worth the risk of getting that 30% back in again. Because i like this level (assuming my big picture is correct) i will open another small day trade as well (50% of what i usually do)
Previous analysis:
Anyway, we have reached a point of resistance now, which i think is worth the risk of getting that 30% back in again. Because i like this level (assuming my big picture is correct) i will open another small day trade as well (50% of what i usually do)
Previous analysis:
The bigger swing trade however, is in danger now, which is of course a disappointment. Even if the stop hits it's still around BE, but that was not the goal of course. I had a good feeling about this one, but we just can't have them all :(.
Anyway, i am going to give it a little more breathing room, so i am going to extend the stop for the swing trade with that purple zone, so risking a tiny loss instead of the BE. If that breaks, that it's just game over.