SPY huge losses with wrong adjustmentsSo many bad decisions here, how to unpack it.
had the 280 calls that the market absolutely obliterated, was way in the money. instead of doing like I learned and NOT moving the challenged side, I sold MORE calls at 285 which is also went through. I then sold puts at 283 which expired OTM but suffered a major loss. Lesson learned, don't adjust the challenged direction!!
SPY 26 credit , sold for 198 = $172 loss
Closedforloss
NZDUSD: Second Short AttemptThe Setup
-Resistance at the 0.7287 level from 4hr chart
-trendline break
-Price struggling to make higher highs
Entry @ 0.7281 only if price does not reach 0.7265 before (this is the 1.618 fib level of the measured move, my first TP)
Trade Management
- 2 sell limit entries @ 0.7281
- Stop Loss for both is @ 0.7294
- TP 1 @ 0.7265 Fib Level 1.618 of measured move
- TP 2 @ 0.7256 Fib Level 2.0 of measured move
Let's see what happens..
NZDUSD: SHORT HEAD & SHOULDERS / TRIPLE TOPHEAD & SHOUDLERS PATTERN
- Inner Trendline Break
- Measured Move
Trade management walk through
- 2 trades opened
- 2 different targets ; 1st target 1.618 ; 2nd target 2.0
- same stop loss
- after 1st target hit SL will be moved to breakeven
Let's see how it goes...