Looking forward to entering Long on BCOUSD after NFP today.
Am not too eager to enter, if it happens, its good. If it doesn't happen, I am fine too, since today is Friday, and I have to hold my positions over the weekends.
I am used to holding trades over the weekends, however I prefer the weekdays. Therefore, when Mondays roll around, I thank God its Monday!
Anyway, our discounted price zone is the 10EMA based on previous Black Friday Sale discounts offered.
Price made a kink in the 10EMA discount by offering 20EMA discount yesterday or so, however, I do not believe it would continue giving 20EMA discounts which is bigger discounts, because, the Flag Pole is very big and long, while the flag is minute.
As usual, I am very aggressive at cutting losses, and moving my stop loss towards Breakeven and into profits. Once the trade is in, I will immediately shift my stoploss upwards by one tenth of the SL size, because my intention is never to price hit my full R loss. I am wrong many a times, by being too aggressive at cutting losses, moving my stop loss forward, etc and price continues to go in my favour after I am out of the trade, however, the results does show that I am profitable, and so, I will continue with my new ways.
I began doing such aggressive SL shifting earlier this year at around February, and it has been profits for me ever since, week on week.
2002SGT 05042024
Trade active
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Entry : 91.389
SL : 88.799
First TP : 93.982 (1R)
Second TP : 95.312 (1.51R)
Comment
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SL shifted to 89.316 for both orders.
Comment
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Shifted second TP lower to 94.776 (1.3R)
Trade closed: stop reached
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Shifted stop befor New York Close last week.
Today, I closed out manually for a -19.5$+- loss.
My Sl was about to get triggered when I was at about 7.5$ SL per order, and was considering my options.
And I decided to let it sit for awhile more since it was still early in the morning at about 8am.
However, when price came down to 9$+, i decided to manually exit instead of giving the market little what i could give, because based on my experience it will hit my tight SL.