The market is playing out close to how we said it would. I'm watching and waiting for the market to break impulsively and retest before entering.
What I am potentially seeing, what could happen. Markets are still confusing me in England so I prefer certainty. Friday, I took many trades but they were short trades and didn't last too long. I'll try put the picture up.
My gut was right I want to believe that but my forecast and analysis were right🤣🤣🤣🤣🤣. My gut just wants to take the credit, the slow movements, the structure and just everything else. Good thing we manually closed all trades.
Honestly confused, especially with the England climate so I've closed all trades and decided to take a backseat.
Manually closed as this is going to be interesting but I'm watching for the close of the next two candles to determine what my next move should be.
SL moved into TP because we are not mountains so we don't have to force to be moved we can actually move. Plus the momentum is changing and giving us new structure so rather than be stupid we protect our funds.
Here's what I am now seeing the POSSIBILTY of but there's still a downwards PROBABILITY.
If you didn't close or move SL into TP your morning is a cup of tears. Manually close, we are seeing a reversal possibility
I honestly thought this would trigger tomorrow but bottoms up right. Either way move SL into profit if you are going to sleep or close with your current profit. Riders and chancers will let it either hit SL or TP, (NOT RECOMMENDED, THAT THING ABOUT TIME AND BROKERS)
Watch it as there is potential for an explosive candle which will either be bearish or bullish which will wipe out some orders. This will be to direct the momentum that the market wants to go.
On my trade TP hit, here we are just a few points away. So different brokers obviously offer different spreads and this will affect your trades, so take that into consideration with brokers.
Here my analysis hit SL, but my actual trade hasn't hit SL so now we in Profit and we move SL into profit.
Not a good week, I think this weekend is meant for a regroup and refinement. Need to leave the markets for a bit and reconfigure my thinking.
It had a double bottom, previously tested level that wasn't broken, engulfing bullish candles, long term bullish structure and it is one of the patterns I trade. Earlier I couldn't explain but this is why I had placed my Longs here and SL just under previous lows. Those that are busy move your SL to just into profit or BE, the market is not your fathers house...
Not too much to explain but those that see, do. Those that don't I'll come back to explain, kind of caught up with some other things.
I had FOMO from not entering the market this week, this was practice analysis. Didn't take the trade but just monitored. Missed the TP by a few points, but that further suggests that our trading edge is sharp but could (and will be) a lot sharper.
I saw this possibility on Monday. Told myself that I would place a sell stop but I didn't get to it.
Only have this because we recently had a petrol price (gas/ fuel price) in South Africa. This usually happens before the price rises again, when we get cheaper prices it's the scraps of the current production. That's why our prices are never inline with the world average.