The long signal received @ $4125 has now been exited at @ $9495. I believe now is a good time to close any long positions and wait for the trend to show strength again to deploy more capital. Some back testing made me realize using this method is not beneficial for shorting so i will never put myself in any short positions just going into cash. I will be wait...
The system alerted me to long. I will do as the system says... Always.... I will get out when the system tells me to... Always...
Ribbon is still red so not sure if this long will work out however i will never doubt my system. - Andres
Link to my free trend trading system indicator:
Sold my long when the bottom donchian broke @ 11,440. Currently sitting in cash and waiting for price to show me bullish price action. I will know when there is bullish price action when it breaks the top donchian sometime in the future. Dont fight the tide flow with it. Keep it simple. - Andres
I simply followed my strategy and entered a short position @ 0.0004294 and plan on keeping this position until the upper donchian line breaks. At this moment the upper donchian is @ 0.0003915 and the channel will become slimmer as time passes. KEEP IT SIMPLE. - Andres
I used discretionary and systematic methods to get into this winning trade.
I noticed there was a strong divergence in the RSI, price kept going up however the RSI was making lower highs.
I decided to risk 4% of my capital, i will get out of my trade if i lose 2%.
Price went on to break the lower donchian channel.
My system tells me i should add more, i again...