Magpie Trader
Wednesday, August 31, 2005
Short cable again
Short cable at 17845. SL 30 pips
big 20 pip drop from the hourly downward TDTL, price attempted a break, but no support. 15 min up TL broken also. hopefully sense has returned and we can continue south.
Should have had a stop sell under that at the 7860 point
As this was being written, the old impatient me jumped right at the bottom of the 1 min bolinger band for the above trade... so price went back up.... It didn't hit my stop and patience prevailed again as my analysis, probability wise is correct, however the entry was pants
The down TL has convincingly held now, the 38% fib is broken and M2 is bust too.
Work still needed on entries as the account killer 'impatience' is still there - but that's why I started this blog.
big 20 pip drop from the hourly downward TDTL, price attempted a break, but no support. 15 min up TL broken also. hopefully sense has returned and we can continue south.
Should have had a stop sell under that at the 7860 point
As this was being written, the old impatient me jumped right at the bottom of the 1 min bolinger band for the above trade... so price went back up.... It didn't hit my stop and patience prevailed again as my analysis, probability wise is correct, however the entry was pants
The down TL has convincingly held now, the 38% fib is broken and M2 is bust too.
Work still needed on entries as the account killer 'impatience' is still there - but that's why I started this blog.
// posted by Magpie @ 9:31 pm 
