Daily Triangle BO --- Anticipating the Weekly H&S BO

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
229 4 10
Brief Analysis
The breakout of the daily ascedning triangle , heralding the weekly H&S BO has been rocky indeed! It takes a closer look, and a critical thinking to see this.

Actual BO of Daily = sept7, 2016
Sept 22 saw massive bear action but bears lacked follow through selling.
Sept 28 --- following crude oil             deal ---- saw similar bear action but seemingly failure en route. And so,

Action plan
Come monday, NY close, and price is not at 0.94144 = I wud go long, following risk management rules as enshrined in my trading plan.
For my information --- two things here
(1) Daily Anticipatory triangle
(2) weekly H&S

Comment: Fresh longs loaded
Next = Sit back and take some loss if it doesnt go well.
I control risk, not profit ;)
Comment: I'm cutting down losses on this trade based on a trigger which seems to have distored the orderliness of price advance.
Estimated loss = -0.6%
Comment: CORRECTION: I'm cutting down losses on this trade based on a trigger which seems to have distorted* the orderliness of price advance.
Estimated loss = -0.6%
Comment: Better to take the blow early, bow your head in shame, call the short a quit than to keep staying in, and hoping, and sustaining further injuries ;)

If it goes up later rather, I'll reassess situations, and consider if I wanna be a buyer again.

Comment: Would price find support w/ Sept5 Low.....?
0.94326 CRITICAL!
Comment: I continue to feel glad for money management rules ;)
I actaully flipped and short upon BO of critical price
Comment: short working well
Thank you! GDT price is dropping this pair could go lower with gold.
+1 Reply
moorekapital Victor.Y.F
Thanks, Victor. See these levels I marked CRITICAL --- looks holding price, atm. If broken down = Massive drop. Until then I'll sit on ma hands. I'm glad my bar by bar analysis told me to gerout and I did = -0.6% . Flexibility is the hallmark.
+1 Reply
moorekapital jangseohee
THANK YOU, DIRECTOR. Yes. This is possible. I mean, regarding the fact that the smooth advance of price organisation has been distorted. Here, I choose to refrain from citing some economic news , fundamentals, and this and that and all that whic caused this event to unfold --- the possible downturn. For me, I think in bars only ;)
+1 Reply
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