It was an almost perfect trade, predicting the pump and dump upfront, getting a nice entry and a bounce. Even more, getting what looked like a break of that trend channel, but there was no follow through unfortunately. Got in 2/3 of my initial entry but got stopped out a week ago.
Now the idea is not completely dead yet, but i am not going to keep on trying anymore. Even now with the current daily candle, looks like another attempt from the bulls. For now i rather want to see a breakout first and a retest before thinking of going long on this one. For example seeing an inverse H&S getting formed, then i am prepared to maybe get in the right shoulder.
For now, if the daily candle closes above the green zone, would make it a big reversal sign. But think even then i would rather wait for the pump and retest. I feel used by EURCHF and it needs to win my confidence back first :) LOL
Previous analysis:
Now the idea is not completely dead yet, but i am not going to keep on trying anymore. Even now with the current daily candle, looks like another attempt from the bulls. For now i rather want to see a breakout first and a retest before thinking of going long on this one. For example seeing an inverse H&S getting formed, then i am prepared to maybe get in the right shoulder.
For now, if the daily candle closes above the green zone, would make it a big reversal sign. But think even then i would rather wait for the pump and retest. I feel used by EURCHF and it needs to win my confidence back first :) LOL
Previous analysis:
