Well, got stopped out at the red line.
Entry:
If we break above the top of the far right red box (the long position indicator) I will rebuy.
Stop:
i'll have an initial stop at the bottom of the red box. Again this is a tight stop. We've just had a pretty big drop so people must be thinking about taking profit at this point, so I'm going to consider being more cautious from now on. however at the moment I'm going to go with a smaller stop for the reward potential. the wick on the dump candle is a good sign that there are buyers around that area.
At this point it's a mixture of protecting capital form any large dumps (which could make the price drop very rapidly) and attacking the trend to get as much out of it as possible while it's good.
Hope people didn't get stopped out like me!
Mark
Entry:
If we break above the top of the far right red box (the long position indicator) I will rebuy.
Stop:
i'll have an initial stop at the bottom of the red box. Again this is a tight stop. We've just had a pretty big drop so people must be thinking about taking profit at this point, so I'm going to consider being more cautious from now on. however at the moment I'm going to go with a smaller stop for the reward potential. the wick on the dump candle is a good sign that there are buyers around that area.
At this point it's a mixture of protecting capital form any large dumps (which could make the price drop very rapidly) and attacking the trend to get as much out of it as possible while it's good.
Hope people didn't get stopped out like me!
Mark
