To short or not to short ? That is the question
I have asked myself more times than I can remember and have also been asked this question lately by some followers so I thought I pen my thoughts on it.
For those who had shorted at 0.70 level to current price, congrats as you are in 60+ pips profits. This does not appeal to me , for now unlike the past where I think I could handle both sides of the candles - buy and sell and still make a good profits. Gone are the days.
From this 4H chart, it is possible that the price may retreat to 0.69255 before rebound or it could also do so at current price.
Now, there are many ways to draw a trend line and again , there is no right or wrong to me. The first green one is the bullish trend line and the pink one (inner line) is also the bullish trend line that has been broken. Unless the green bullish trend line is broken down, then I am concerned else I would be monitoring the price action to get in for a buy later.
So, the time frame , be it day, week, 4H , 1H or 15 mins that you employ in your trading strategy becomes crucial as the forest views differs greatly from the trees or branches view. But taken in totality, they are part of the bigger picture.
Can you tackle both or all ?Sure you can if you are able to juggle all. So good luck shorting for those who ar shorting and good luck later to those who wants to buy.
For those who had shorted at 0.70 level to current price, congrats as you are in 60+ pips profits. This does not appeal to me , for now unlike the past where I think I could handle both sides of the candles - buy and sell and still make a good profits. Gone are the days.
From this 4H chart, it is possible that the price may retreat to 0.69255 before rebound or it could also do so at current price.
Now, there are many ways to draw a trend line and again , there is no right or wrong to me. The first green one is the bullish trend line and the pink one (inner line) is also the bullish trend line that has been broken. Unless the green bullish trend line is broken down, then I am concerned else I would be monitoring the price action to get in for a buy later.
So, the time frame , be it day, week, 4H , 1H or 15 mins that you employ in your trading strategy becomes crucial as the forest views differs greatly from the trees or branches view. But taken in totality, they are part of the bigger picture.
Can you tackle both or all ?Sure you can if you are able to juggle all. So good luck shorting for those who ar shorting and good luck later to those who wants to buy.
Comment:
good support at 0.69329. added long
Comment:
SL hit
Comment:
now it is supported at 0.68609. if this level is broken down, then it will visit 0.68399
