Silver is developing a harmonic pattern, let´s see if a Bullish gartley . I entered short at Market with SL above 15.5 on a daily close .
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6 Trading Rules :
1. Never add to a losing position . 2. Don´t be the first to buy low and sell high ., and don´t be the last one to exit 3. Think like a fundamentalist, trade like a technician . 4. Keep your analysis simple 5. Start small and increase exposure when trend is confirming your analysis 6. The hard trade is the right trade
Quick question, if this is a gartley when is it a gartley? @ point 'D'? and if so wouldn't it make sense to let the market confirm your analysis? Rule #2 : don't be first to the party, the girls might not be there yet. it seems you might be both early and countermanding your pattern analysis. I don't know a thing about harmonic patterns other than you are supposed to wait for them to complete for a low risk trade.
Thanks for listening, good luck to you. FYI I am also short silver, but for fundamental reasons, so I guess I am talking out of both sides of my mouth.
Realisto_FX
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Thanks for the feedback, I noted that it has potential for a harmonic pattern, so it goes down anyway and depending on the final structure, it may end up or not in a gartley. Re rule 2 , I already was waiting for the girls yesterday , so I entered short today after the bearish candle confirmed they arrived. Good luck !
ShirokiHeishi
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LOL I showed up and waited at the party for a week. only starting to be profitable now.
thanks, as you could tell I don't trade harmonics, but I guess if your assumption is going to be correct, why not be in a bit for the ride down as well. Thanks
Keep it up, I've enjoyed reading peoples opinions and styles of trade
Thanks for listening, good luck to you. FYI I am also short silver, but for fundamental reasons, so I guess I am talking out of both sides of my mouth.