After the short postion prior i did what i always do and reversed the postion when i saw signs of a reversal.
Personally i dont think this bull run will last long, Maybe till mid day monday.
Entry was at 18000. Check previous ideas comments for confirmation that it was infact the price the trade was taken at.
Personally i dont think this bull run will last long, Maybe till mid day monday.
Entry was at 18000. Check previous ideas comments for confirmation that it was infact the price the trade was taken at.
Comment:
Stop area has been moved to around the bottom of the ledge at 18084.5
Any break and closure below will likely result in a closure of the current long postion and a reversal into a sell position.
Any break and closure below will likely result in a closure of the current long postion and a reversal into a sell position.
Comment:
Seems my thoughts amount the price movement around this edge were true. Price is just sitting above/on a ledge and likely wont move from it until tomorrow morning.
I dont cover my risk overnight as the LP i use often opens with gaps.
This is risky as it means i wont be in control of this position until 7am, by then price could break, hold and crash further beyond my stop level before im aware enough to close the position.
If you were conserving capital i would recommend closing the position and opening it tommorrow monring dependent on price movement in the asian session.
However much to my own distaste, im going to hold until the morning. This brings me TWO cons and ONE positive.
CON 1 - Swaps... The hold over the weekend cost me ÂŁ158, so i can bet to see that around -ÂŁ200 in swaps by the morning.
CON 2 - Unaware risk exposure. Price may move agaist me while i sleep and leave me with a loss rather than a small gain.
POSITIVE - Price could push higher in the night and i could wake up to see it in further profit.
For me so far this month has been ok, Setting me at a +4.4% only a week in. I cant see this moving more than 0.5% agaist me overnight so its a risk im comfortable taking.
Time will tell if i have done the correct thing...
I dont cover my risk overnight as the LP i use often opens with gaps.
This is risky as it means i wont be in control of this position until 7am, by then price could break, hold and crash further beyond my stop level before im aware enough to close the position.
If you were conserving capital i would recommend closing the position and opening it tommorrow monring dependent on price movement in the asian session.
However much to my own distaste, im going to hold until the morning. This brings me TWO cons and ONE positive.
CON 1 - Swaps... The hold over the weekend cost me ÂŁ158, so i can bet to see that around -ÂŁ200 in swaps by the morning.
CON 2 - Unaware risk exposure. Price may move agaist me while i sleep and leave me with a loss rather than a small gain.
POSITIVE - Price could push higher in the night and i could wake up to see it in further profit.
For me so far this month has been ok, Setting me at a +4.4% only a week in. I cant see this moving more than 0.5% agaist me overnight so its a risk im comfortable taking.
Time will tell if i have done the correct thing...
Trade closed: stop reached
Not to say price wont break now, I just doubt it personally. However if it does, nothing changes