I cant say I have really ever seen anything like this chart so I thought I would post it.
This is the type of breakout you want to avoid unless it does finally breakout to the upside.
There was a clear breakout from the cloud then a huge drop which if you trade like I do with no stop loss its a good thing to start with small lot size.
I am only down us$16 at this point so I will wait and see but I will be adding to my position and taking profits fast if there are any huge upside moves.
Look at the cs it is still above price but close, when it hits there could be a huge move either way and although it was rejected by the cloud earlier right now its looking like it might shoot higher bigtime.
This is the type of breakout you want to avoid unless it does finally breakout to the upside.
There was a clear breakout from the cloud then a huge drop which if you trade like I do with no stop loss its a good thing to start with small lot size.
I am only down us$16 at this point so I will wait and see but I will be adding to my position and taking profits fast if there are any huge upside moves.
Look at the cs it is still above price but close, when it hits there could be a huge move either way and although it was rejected by the cloud earlier right now its looking like it might shoot higher bigtime.
Comment:
I`m buying small lots and larger when it breaks the cloud.
Comment:
Thanks to tntsunrise I am back in this trade which I had closed yesterday when it failed to break the cloud and moved into what looked like was becoming a selling position.
Trade closed manually:
I closed this for a very small loss on Friday but clearly we are in a bearish trend now, although I am moving on from this trade too many more opportunities but I will keep an eye on it for any further upside moves.
Comment:
It`s a lesson for me to be more disciplined and stay with my own strategy as all my experience and indicators pointed to this going to the downside.