As AUDNZD started to put a whooping on me, I then started doing my top down analysis (Ironically after having entered a knee-jerk short). Poor planning on my part and I see that I should have been long all along.
A beautiful inverse head/shoulders with a nice compressed move back to the Quasimodo. It was interesting to note the fractal QM at the accumulation area...
No one is perfect, but then again! What the hell is perfect? No one can show me "perfection" in the cosmos. Instead of perfect, perhaps "processes" is more along the lines of an appropriate word. Some might say a process is perfect but I prefer to think natural. Perfect isn't part of nature. This is my process! And, yes! I am influenced by certain methods, but...
The beast is quite beasty, but still churns out some nice patterns. I'm gonna soil myself (and am sure many others will too) if this thing rocks a break out to the upside. I see a lot of "short" analysis and I always like to assume that if the herd is thinking something, better to think the opposite. Guess we'll see.
I'm so contrarian. Hey, price hit that nice daily bar's body average AND prior to the pocket of buy stops above - and often a retrace occurs. I saw some slight divergence via m1 and so stop is tight and reward as such.
I decided to divorce the short position for the time being. As Schwager once said "Show no loyalty to positions" Let's see if this short term long works and if we can get some rejection up at the areas marked for possible shorts. Also, note the RSI h4 divergence.
A simple short 1:1 and it appears bearish to me. Explaining all the complexity is useless, as I would just likely be trying to meet the fundamental human need to feel significant - lol!
Let's just use a few trend lines and control risk. If it works... it works. if it doesn't, fine! No one trade defines your edge. Happy new Year!
As it is Tuesday... perhaps the weekly low has already been established?? Consulting with the weekly ATR perhaps a decent an anticipation. Turtle Soup appears to be on the menu this week. We'll See. Let's play.
Just some out-loud journaling of what I see in the USDCAD. Anticipating a run above last week's high and likely Sept's high. AND MAYBE into the clean shelf just to the left. Surely not an unreasonable expectation as per the weekly ATR and fact that some LQ gaps are still open :)