Nov 5 is on my indicators a date for a high and november 10 a date for a low.
We are in a time price area where there is resistance and I expect therefore a retrace.
This has been a good run from the October lows, but according to laws of time and price, well...
We are in a time price area where there is resistance and I expect therefore a retrace.
This has been a good run from the October lows, but according to laws of time and price, well...
Trade active:
Comment:
There is more likely that we will see continued bearish movement into the 11th of November as I am not satisfied with the price amount of retrace yet.
Trade closed manually:
Comment:
Closed the trade with good profits above target zone.
Why? Well, price behaviour was inconsistent with my outlook and I went over history and I saw that I misplaced an inversion which came in late Oct.
Inversion reverses the pivots of a cycle. It came in almost a month before I expected it to come. Interpretational mistakes is a Gann-traders biggest enemy!
Why? Well, price behaviour was inconsistent with my outlook and I went over history and I saw that I misplaced an inversion which came in late Oct.
Inversion reverses the pivots of a cycle. It came in almost a month before I expected it to come. Interpretational mistakes is a Gann-traders biggest enemy!