I lost about 15% of my account trying to pull of this pyramiding game earlier on so all in all it's still reasonable, getting the stop hit on my main position wouldn't have been funny anymore however. I am still up fourfold from the level I started the day with ...
damn, my disaster stop got hit, why am I even trading the Asian session ? Note to selve disregard chart patterns formed in between US late session and start of Asian session. No only up 50% for the day anymore ...
I found the solution to the riddle kelly was asking before: the aggregate more money leaves traces on the bigger timeframes ... so it's a methaphor with actually some truth in it (like most metaphores)
Late US sessions are only signals to get out of a trade, not ones to start a trade ... this should come in handy as this will leave me a 7 hour window to actually sleep somewhat.
short 1.2029 off the combo of 2H chart and 1H chart with a target at 2H ema20 because of the way stochastics is turning on both charts. stochastics on 3H is hooking somewhat too, but I'll just take the easy meat in the middle, we could however go for the 3H ema20
the more likely target however is ema50 on the 1H so I'll set my buy there and will have to change my projected abcd target for the upmove
that's three black crows on hourly and I entered the trade when the second crow rolled over into the start of the third black crow.
this could roll into three black crows on the 2H tf, this would set target way lower at 2H ema50 with an upfollowing move of around 80 pips.
just was thinking of something: if your stoploss is hit, the market is tellling you something, you lack either reading skills or misinterpreted something in a big way ... you should see this as a punishment on your way to become a better trader and you got a price to pay. That's way I am trying to run this journal without ever getting my stops hit ... at least that was my initial intention.