FX_IDC:GBPUSD POUND STERLING / US DOLLAR
Closed this trade as per my stop loss being any 4hr close below the B point which was at 1.5309 for a loss of -71 pips. Will stay out of market until I have re-analyzed what is happening and the price action.
Thanks! I think... There's no reason to hide a loss. It's also a learning experience as to how to handle losses. I don't win ALL the time. Just more wins than losses and when I do win a trade, it's for MUCH more than my losses anyway. That's how to make money in this game! So yeah, admitting my losses is not a big deal as the reason I post here is to help others to learn about trading. If they only see my wins, then I would be misleading everyone. And that's not what I'm about. GL! And thanks for following me! More winning trades to come!
Not sure what pattern you are drawing here as your D point XA extension (1.4723) doesn't match any pattern. Are you drawing a butterlfy or are you drawing a deep crab? Here's what I am working on for this pair but yet to post on it because I'm not yet sure that price action supports it. It's a bullish deep crab but until I finish my analysis on it, I won't trade it.