MrRenev
Short

Not so fast! TRAP!!!

FX:EURGBP   Euro / British Pound
Sucker rally. Calling it.

Technically, we are at a 38.2% retrace and we can see the price is in a rising wedge .
Also, very interestingly, the price is at a 2.618 extension.


Alot of people follow Bitcoin , this might remind you of:


And also to a smaller extent of:


This stinks of a trap.
You can spam Brexit FUD, it will not matter.
Bears, get ready to get rekt.

Also, the euro is at resistance now:

Oct 10
Trade active:
Oct 10
Comment: GBPNZD looking pretty good too...


Oct 10
Comment: Good, good.

Oct 10
Comment: This wasn't supposed to be intraday lol.

Since it is dropping like a rock, it would be interesting to really try to stay in, short it to the ground.

Huge winners are started like this.

Of course if it bottoms or retrace then well too bad, have to take profit.
But if possible, we have to try running it. Can be a very nice big winner...
I was getting mad thought I'd just lose again :D


This is what I want to see:
Oct 10
Comment: REKT BULLS! REKT GBP BEARS.
YOU DARE TO OPPOSE THE MIGHT OF THE BRITISH EMPIRE?

LONG LIVE THE BRITISH POUND!

GREATEST FIAT CURRENCY EVER MADE.
IN ALL OF HUMAN HISTORY IT IS THE ONLY ONE THAT SURVIVED THE TEST OF TIME.


What a pump. TO THE MOON.
Oct 10
Comment: Now shouldn't retrace more than 38.2%, put stop loss a little higher than this even.




Oct 10
Trade closed: target reached: Wait what.
I am out. Had a limit close at 1.96 on GBPNZD (got out at a loss on eurgbp earlier to go into more attractive gbpnzd). I got out at the top but... I was just typing a limit order to see how much I'd make...
I guess I can't complain.


I'd show a screenshot on twitter but they banned me for calling robinhood users dumb :D

Maybe I'll make an instagram.
Oct 10
Comment: What a rocket ship...

Unlucky... See this is something I have to work on...

I really want those huge winners...

I must have set a limit order "just in case".

I can't be in front of the computer ready to react in a split second.
If I go outside... I can't look at the phone every 10 minutes.


I don't want to get something like this:


Maybe I should use a script? Because big winners usually just explode very fast...


One way can be to have a target far away in case the price explodes and we're not around...
And try as best as possible to remove it when it happens

Also a possibility for those that #madeit would be to hire someone...

Another way would be options, if the price goes up there buy the right to sell... But that's expensive...

Otherwise, a script, and hope it doesn't go rogue xd

So to conclude this little point, there's a ton of possibilities and aspects of trading to work on.
Not just learning some patterns and let's go.
Even not being delusional and building the correct bias would place you in the top 10% but it is far from enough.

Here is an INCOMPLETE block of text, just to show there are alot of things that come into play, not just generating some coinflip signal or copying a clown on some "copy trade" broker.
Oct 10
Comment: It's happening... Bouncing
Oct 11
Comment: Weird, usually BTC hodlers come to my FX ideas and comment how bad I am.
Where are there? Why aren't they telling me how awful I am?
Oh right, they're being silent because I nailed it! Cowards.


In many ways Crypto is similar to the Internet.
They both are innovative techs. They both are 40 years old.
The difference is the Internet got adopted 25 years ago, and Crypto enthusiasts are still looking for a use case other than criminal activity.

Comments

Going to 0.91
Reply
I have simmiliar view
Reply
Why won't Brexshit FUD matter? Because of your squigglies? : )
Reply
MrRenev LauriElias
@LauriElias, Rekkt. Hope you weren't long.
+1 Reply
LauriElias MrRenev
@MrRenev, nah man I don't Forex.
Reply
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