Never catch a falling knife - unless it reached the bottom. It looks like if we see the latter case here now.
Comments
jangseohee
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we need a higher low to confirm
ForceFollower
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I still maintain a bearish bias, but I agree this correction may continue almost up to 0.825.
jangseohee
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which is decent enough profit :-)
motleifaul
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I agree with you. I don't exclude the continuation of the downward trend as well. That's why I keep this position tiny and of course not without a stop. But I want to be in the number if the trend begins to change. Thus I risk a bit loss which won't hurt me.
motleifaul
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You were right this time. I've been stopped out.
jangseohee
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One big advantage of jumping the gun is you get big profit if you are right and minimize your losses
since i do not day trade, once price at at the edge of channel, i will average my long/short and hold them until i am wrong
motleifaul
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It is a good strategy as well, I think. Thus you combine a trend following srtrategy with a contrarian one.
jangseohee
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sort of my contrarian only comes into play after prolong uptrend or downtrend
or my emotional indicator sets in