Browse By

Whatever goes up must come down; the main trend is important

Alright, this post is protected again. I’m looking broadly at big picture and so weekly timeframe my first choice.

Let’s apply trade process again.

1. Look for trades

If you can’t find trades on your own, then check out this blog. There’s nothing wrong to tap into my brain. Charts speak for itself.

""

HTF R

""

Almost perfect ED

Step 2: Planning for trades

There’s no Day bearish close yet. So I’m not going aggressive. Smallish.

There’s a bit of bearishness coming up in H4, so I’m going to see if a retest back into previous high (aka pt 2) around 6970 will give me a low risk trade. I must remind myself – smallish tight stop.

I’ve marked in few support around 6880, 6780-6800. This is a big ED, so I’m going to play inside this ED first, further action till it’s broken.

""

LTF and my thought my actions

Step 3: Triggering and Step 4: Managing Trades

I was triggered on a smallish size on sell limit at 6980. However, looking at day close, the long tail doji speaks a lot about power of bull. So I’m closing out with a loss of 51 pips.

This trade loss did not touch my capital, because in the first place, it’s a small lot size.  Let me recap what I said previously. 

There’s no Day bearish close yet. So I’m not going aggressive. Smallish.

 

""

Day close on long legged Doji

Disclaimer: 

TerraSeeds Market Technician Pte Ltd and the articles created and posted by Authors are published and provided solely for informational and entertainment purposes. The information and material contained within the posts and articles appearing at the site are the opinions of the Authors alone and do not constitute a recommendation of any securities, investment strategy or investment transaction. The information and articles appearing at the site are not intended to be and should not be considered investment advice or a recommendation to any user regarding their personal investment needs or economic circumstances. None of the content provided is intended as investment advice regarding any specific security, portfolio of securities, market strategy or investment transaction.

53Shares
Loading Facebook Comments ...

2 thoughts on “Whatever goes up must come down; the main trend is important”

  1. Gek Kian Angie Lim says:

    I am a student of terraseeds. How do I access to read your post on g+ which are meant for students?

Leave a Reply