Stopped out on this last one BE+2. Back in short at 2895.75. Will watch my stop to see if it needs to move quickly to BE+1.
they are trying to change the momentum in favor of short. So far shorting is still counter trend so might have to exit soon if they cannot push it down to 89.00
That's why I like the breakeven + (whatever you want) strategy. Once in profit, and within an amount that doesn't look like it'll turn and stop you out (happens to me often), then set your stop and who cares what happens. You might get stopped out more in conditions like these, but at least you won't be getting stopped out at your full stop distance. Make sense?
too many mixed signals it could go either way, need 92.75 to break for shorts. i am out for now, looks like exited too early.
yes but my stop loss i try to set up where if it gets taken then i was wrong. for the break even + you need to have precision entry where your stop can withstand the whipsaw. for me i cannot yet get that precision entry with excellent stop placement. sometimes you risk 2-3 points and get rewarded with 10-15 points.
yes i see weakness in this latest upmove but since my entry was not the greatest, i don't want to risk my stop being triggered.if i had entered around 2900.00 with break even stop loss i might let it play some more till i get concrete evidence that the upmove has legs.