4001 (A/U) Range Break & Pullback Reversal to 0.7800
---- ANALYSIS ----
-- (8h) Two large Bullish candles rallied price to 0.7870 level
-- Price has since stalled and ranged between 0.7870-50
---- STRATEGY ----
-- Price expected to return to 0.7800 level
-- If price breaks range and moves below 0.7850, then Bearish entry is valid.
---- ACTIONS ----
-- Placed SELL(+50/-25) at 0.7844
-- (8h) Two large Bullish candles rallied price to 0.7870 level
-- Price has since stalled and ranged between 0.7870-50
---- STRATEGY ----
-- Price expected to return to 0.7800 level
-- If price breaks range and moves below 0.7850, then Bearish entry is valid.
---- ACTIONS ----
-- Placed SELL(+50/-25) at 0.7844
Comment:
---- EXTRA ----
-- via TradingView's published ideas feature, was able to check out another person's analysis which spoke of a possible bullish turnaround from the bottom of a 300pip channel.
-- This also influenced me to exit early and reset the entire trade...
-- (Interesting feature..!)
-- via TradingView's published ideas feature, was able to check out another person's analysis which spoke of a possible bullish turnaround from the bottom of a 300pip channel.
-- This also influenced me to exit early and reset the entire trade...
-- (Interesting feature..!)
Comment:
---- EXTRA ----
-- Upon further review of the other person's chart:
--
-- I feel his analysis is somewhat off...
-- he talks about price bouncing off of a (sketchy) descending parallel channel, when the more likely (and more concrete) explanation is the bouncing off a 100-level.
-- Again, very interesting TV feature that (emotionally) affected my trading judgement.
-- Will be more mindful of this during my In-Trade moments...
-- Upon further review of the other person's chart:
--
-- he talks about price bouncing off of a (sketchy) descending parallel channel, when the more likely (and more concrete) explanation is the bouncing off a 100-level.
-- Again, very interesting TV feature that (emotionally) affected my trading judgement.
-- Will be more mindful of this during my In-Trade moments...
-- Entry was triggered at 10am, but was a whip-saw of news-related price action.
-- As of 3pm, price has drifted steadliy into more negative territory.
-- Decided to close position as-is with -9pip loss.