Just one man's somewhat educated opinion and that education level and quality can be debated.
We have the volume we need to see for it to be a bottom. We tapped the low end of that order block.
I don't now if its a never look back bottom. Sure, it could be.
But I see the makings of a bounce here.
We have the volume we need to see for it to be a bottom. We tapped the low end of that order block.
I don't now if its a never look back bottom. Sure, it could be.
But I see the makings of a bounce here.
Trade active:
And there we go. 20% is a good take for a couple of days. Can't bring myself to call it over. But, taking a piece off makes it a risk free trade.
*Note: Paper gains can be real gains if the trade is closed, thus a 'risk free trade' is not really risk free. You are risking your paper gains which could be realized. Always keep in mind that there is a R:R not just before you take a trade, but also while a trade is in progress.*
If you think about it in terms of adding to your position this is clear: As you approach your target, your risk becomes greater and greater and your reward less and less if you were to add at a given point in the trajectory. As you approach your stop, you risk becomes less and less and your reward becomes greater and greater.
I am not suggesting that you consistently add to losing positions or cutting trades early, but sometimes it makes a lot of sense depending on how you've structured the trade (i.e. went in light with first entry and it moves to toward the stop. Adding can make sense if there are additional signals coming in that indicate its going to work and you were just early.)
I always say, everything works. It just might not always work for you.
Hope you made some money. If not, there's always the next one.
*Note: Paper gains can be real gains if the trade is closed, thus a 'risk free trade' is not really risk free. You are risking your paper gains which could be realized. Always keep in mind that there is a R:R not just before you take a trade, but also while a trade is in progress.*
If you think about it in terms of adding to your position this is clear: As you approach your target, your risk becomes greater and greater and your reward less and less if you were to add at a given point in the trajectory. As you approach your stop, you risk becomes less and less and your reward becomes greater and greater.
I am not suggesting that you consistently add to losing positions or cutting trades early, but sometimes it makes a lot of sense depending on how you've structured the trade (i.e. went in light with first entry and it moves to toward the stop. Adding can make sense if there are additional signals coming in that indicate its going to work and you were just early.)
I always say, everything works. It just might not always work for you.
Hope you made some money. If not, there's always the next one.