Greetings TradingView,
As per previous related idea below, we saved our rectums with a mighty bandaid and closed them early or moved our SL to breakeven. We wanted to preserve our capital as we do see a slight retracement, followed by strong bearish behaviour throughout the AU session.
New Entry:
LONG: 8717
SL: 8567
Pips: 8850
Target: 9602
Much safer.
However, in the unlikely event, we do see a retracement from here and bounce back, be prepared to enter above the reliable "IF BOUNCE BACK ENTER BUY STOP HERE" line. Please remember, we're only retail traders, the odds are not in our favor, so we need to do what we can to be smart about protecting our capital.
- If we're going to think like this, we should investigate WHAT price does, repeatedly, backtesting and backtesting more until we see similarities from past price movements and using our Fibonacci, trend lines, support and resistance zones we're able to identify where the major hedges come in to play. Not to mention, fundamental news. This impacts NAS significantly and will definitely put off new investors.
Yes NAS does appear like a great asset to 'make a lot of moola' but, we need be aware of the risks we're taking for the reward. Don't blow accounts, pile profits.
- Zach, over and out.
As per previous related idea below, we saved our rectums with a mighty bandaid and closed them early or moved our SL to breakeven. We wanted to preserve our capital as we do see a slight retracement, followed by strong bearish behaviour throughout the AU session.
New Entry:
LONG: 8717
SL: 8567
Pips: 8850
Target: 9602
Much safer.
However, in the unlikely event, we do see a retracement from here and bounce back, be prepared to enter above the reliable "IF BOUNCE BACK ENTER BUY STOP HERE" line. Please remember, we're only retail traders, the odds are not in our favor, so we need to do what we can to be smart about protecting our capital.
- If we're going to think like this, we should investigate WHAT price does, repeatedly, backtesting and backtesting more until we see similarities from past price movements and using our Fibonacci, trend lines, support and resistance zones we're able to identify where the major hedges come in to play. Not to mention, fundamental news. This impacts NAS significantly and will definitely put off new investors.
Yes NAS does appear like a great asset to 'make a lot of moola' but, we need be aware of the risks we're taking for the reward. Don't blow accounts, pile profits.
- Zach, over and out.
