Which would you of choosn....?

Doomberg

Established member

Messages

960

Likes

75

• Apr 25, 2012

• #1

In that picture of the EUR/USD the price had fallen, it kept nosing 13200 and bouncing off that area back up to around 13210 and then bouncing down. So it may of not liked 13200 and surged up, or it may keep nosing 13200 and eventually break it and have a big surge down.

Would you of:

A) Closed and took profits
B) Closed short at 13200 and Longed
C) Stayed short and hoped for surge down

 

Attachments

• 
  SandR.jpg

  144.5 KB · Views: 309

Doomberg

Established member

Messages

960

Likes

75

• Apr 25, 2012

• #2

And god knows how i managed to spell chosen that way

 

The Leopard

Experienced member

Messages

1,877

Likes

1,021

• Apr 25, 2012

• #3

Need more context really, but if it breaks the low this type of situation is often very good for an accelerated drop.

And yes, choosn is one of the worst misspellings in human history.

 

Enzzo

Active member

Messages

145

Likes

13

• Apr 25, 2012

• #4

I Agree here....

The Leopard said:

Need more context really....

Click to expand...

If I would need to tell you an answer though I would probably bank here some part of the lot (in case you don't want to miss a potential aggressive break down of that consolidation), and enter again if it pulls back to that level around 3212 that could perfectly match with the descending trend line that looks like coming as per your picture....

 

the hare

Senior member

Messages

2,944

Likes

1,282

• Apr 25, 2012

• #5

depends if the coin landed heads or tails

 

T

tomorton

Guest Author

Messages

8,845

Likes

1,581

• Apr 25, 2012

• #6

Closed whole position, and banked gain. Then placed short order a little way below 13200.

It would also be possible to place a buy order above the range 13200-13206, but the pattern suggests more likely a bear flag, with a dramatic downleg possible, I don't see any significant potential buying energy.

Anyway, I don't like to place opposing orders to bracket a range, since I am talented at getting them both triggered and both stopped.

 

bbmac

Veteren member

Messages

3,584

Likes

789

• Apr 25, 2012

• #7

impossible to say for sure as a. it wasn't us trading it and b. we know what happened next so suffer from confirmation biais , - so a retrospective answer is only limited in value.

G/L

 

The Leopard

Experienced member

Messages

1,877

Likes

1,021

• Apr 25, 2012

• #8

Doomberg said:

And god knows how i managed to spell chosen that way

Click to expand...

And in any case it should have been "have choosn" rather than "of choosn".

The fail is strong in this one.

 

Doomberg

Established member

Messages

960

Likes

75

• Apr 25, 2012

• #9

The Leopard said:

And in any case it should have been "have choosn" rather than "of choosn".

The fail is strong in this one.

Click to expand...

I'm clearly a fail fox for that typo :clap: