Which would you of choosn....?

This is a discussion on Which would you of choosn....? within the General Trading Chat forums, part of the Reception category; In that picture of the EUR/USD the price had fallen, it kept nosing 13200 and bouncing off that area back ...

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Old Apr 25, 2012, 2:46pm   #1
 
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Which would you of choosn....?

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
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Old Apr 25, 2012, 3:02pm   #2
 
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Re: Which would you of choosn....?

Doomberg started this thread And god knows how i managed to spell chosen that way
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Old Apr 25, 2012, 3:09pm   #3
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Re: Which would you of choosn....?

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.
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Old Apr 25, 2012, 5:23pm   #4
 
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Re: Which would you of choosn....?

I Agree here....

Quote:
Originally Posted by The Leopard View Post
Need more context really....
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....
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Old Apr 25, 2012, 5:27pm   #5
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Re: Which would you of choosn....?

depends if the coin landed heads or tails
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Old Apr 25, 2012, 6:05pm   #6
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Re: Which would you of choosn....?

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.
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Old Apr 25, 2012, 6:28pm   #7
 
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Re: Which would you of choosn....?

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
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