I went long a few hours ago and now I'm regretting it :-(

Trendy wrote: Sat Sep 18, 2021 2:37 am I went long a few hours ago and now I'm regretting it :-(

Yeah, looks like it's heading lower. Are you going to keep that trade open over the weekend or close it?

I closed the long and I am glad I did. That move down won't end at 1.1700, I bet.

mlawson71 wrote: Mon Sep 20, 2021 10:28 pm I closed the long and I am glad I did. That move down won't end at 1.1700, I bet.

I think you could scalp it: long 1.17050 TP 1.1730 SL 1.16990
Probably I am wrong.
(May not reach TP because of resistance, so maybe I'll call it a day at 1.17233)
update: Just like me, I quit and price reached TP.

That was an excellent advice and I heeded it, thank you!

It bounced off 1.1700 again. This consolidation won't end this week.

It formed a double bottom at 1.1680, we may see it move north again.

mlawson71 wrote: Mon Sep 27, 2021 10:36 pm It formed a double bottom at 1.1680, we may see it move north again.

Possible, albeit not right now. (Low at 1-16832)
But easy and nice trade today.

I thought it had broken out below the double bottom, but it still seems pretty hesitant to me.

It broke out even below the last low at 1.1600 that had formed last year. It's practically in freefall now.