Hey, many thanks for your ideas, I was randomly browsing TradingView when I came across your idea and it matched with mine :)
Although, I've noticed that some ppl believe that the price is going to retrace back to 1.23400 before continuing with the downtrend, any thoughts on that?
And just want to say again thanks for the idea! Have a great trading day!
Swing...Trader
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@Dominic23, hi :-)
thanks for your comment and your kindness about my ideas .
well, i believe in what chart telling me dominic.
i dont pay too much attention to what people say to be honest .
yes its always nice to get a idea , but we all make mistakes and get the ideas wrong sometimes.
the only thing is always correct is right front of you in the chart and also keeping a good eye on important news is always a bonus.
in this pair ,chart pattern is clearly in favour with us and going our way , but just in case , we have giving enough room as SL to make a higher low and higher high to eventually hit our profit .
and as always money management is one of the most important thing in any trade .
hope you understand what im trying to say in here .
thanks for your follow :-)
mpanav
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I had several sell position at this level but I had to close the majority with loss on the way up. I hold a very small position on this exact price and hope it will work this time! your calls are impressive man! Weldon!
Swing...Trader
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@mpanav, hiya , thanks for you comment and your kindness about my signal ideas :-)
did you say you had several sell position there ?! maybe thats the issue you ve got to improve !
you only need 1 or 2 position at most in any trade .
and if most of it has been stoped out , it tells me your SL are too close to you entry !
we all need to remember that , we need to give enough room to the market to do what it need to do to get to the point we want it to get .
so, money management and having a long enough distance for SL is really crucial part of any trading .
hope that helps :-)
mpanav
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@SWing...Trader, Hi, Thank you for your suggestion. Yes, it's kind of true. I had a bigger position aroung that price but because I was wrong on the trend I hold a position and then reduced it with loss. I hold a small portion of it. I think my big mistake is my entries are not aligned with trend and I miss out the majority of move and put a lot of psychological presure on myself! Anyway, keep up the good work and weldon! :)
Although, I've noticed that some ppl believe that the price is going to retrace back to 1.23400 before continuing with the downtrend, any thoughts on that?
And just want to say again thanks for the idea! Have a great trading day!