trading the momentum cycle

this is the first trade.

 

you`ve missed the momentum 30 bars ago

 

i am short

 

it may be just starting hopefully at least..i mean momentum down

 

Where is the momentum down on your chart?

 

That might be a good catch, but there are a half-dozen other technical trades on the chart. No comment on those?

 

Your short entry point is not good. For this type of counter trend trade, usually there is not enough meat if you don't anticipate the top. A safer trade is to short at 1.1720 and pray that there isn't a huge breakout.

 

yes you were right...it was terrible entry....but my reading was there would not be a huge breakout ....but i was trading a lower high

 

after trading brooks for ten years and losing ...i am now a little choosy..till i am profitable

this is not a tried and tested strategy...testing is just started...but appreciate your insights.....can you mention one of those other technical trades so i will know your way of thinking

 

it was supposed to start when i sold but...it started a little later see this chart