Let it run!
Often talking about patience in trading (and many other areas in life) but it's a skill that requires lots of hard work and practice to "master".
Had been in that long USDCHF for some weeks now, and after breaking above the previous level of resistance, I was expecting a period of consolidation and and a continuation to the upside (where I could have added to the current position). Consolidation indeed, but the price ended up getting back below the broken resistance level and hitting my trail stop for a nice total profit of +283 pips (-29, +19, +166, +127). The cherry on the cake was the positive overnight fee that really helped, in allhonesty, being patient and let this trade run as long as possible : the longer it was open, the more it was adding some extra cash with each day!
Had been willing to benefit from the move down but never got a reason for entry, and now interested to get long again as price is a previous support level, RSI oversold, so a double bottom or a breakout pattern would allow me to buy this pair again! But until I get my rules met, I sit on my hands and practice my patience :)
Have a great week in the markets!
Had been in that long USDCHF for some weeks now, and after breaking above the previous level of resistance, I was expecting a period of consolidation and and a continuation to the upside (where I could have added to the current position). Consolidation indeed, but the price ended up getting back below the broken resistance level and hitting my trail stop for a nice total profit of +283 pips (-29, +19, +166, +127). The cherry on the cake was the positive overnight fee that really helped, in allhonesty, being patient and let this trade run as long as possible : the longer it was open, the more it was adding some extra cash with each day!
Had been willing to benefit from the move down but never got a reason for entry, and now interested to get long again as price is a previous support level, RSI oversold, so a double bottom or a breakout pattern would allow me to buy this pair again! But until I get my rules met, I sit on my hands and practice my patience :)
Have a great week in the markets!
הערה
Well well : correct analysis, market presented a painfree double bottom which would have brought decent profit.. if I had been in the trade! Cause I missed it!! HAd been a busy at work and forgot to check my chart during lunch time so I could not get involved (placed buy order at the close of bearish candle, which would have been my entry point, but price never turned back and made it straight to target 1, allowing me to keep sitting on my hands until the next opportunity!!That's what it's about : discipline, following my trading rules and NEVER chasing a trade!
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.