Short tomo on a deviation?
Updated
Ive decided to short tomo at current price of 1.5245 with a stop at 1.5545 as a hedge against the long i entered at 1.51. Reason being that this last move may have been a deviation and a close below 1.55 was my ltf trigger that it was a deviation. Possible targets if it breaks 1.46-1.48 are 1.22, 1.03 and .91c that is why i see the potential for downside just as profitable as upside and why i am hedging my long with a short
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stopped out, long is active from 1.51we let that run now and trade that plan
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4h closed below 1.55...shorting here at 1.5221 s/l 1.5584
5th times the charm? lol
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seems market is bouncing and tomo is selling off which makes sense as tomo has been pumping/holding small daily gains whilst the rest of the market got pummeled. I think this is the beginning of a bigger move down so im going to be patient and let it run. stop is at break even and tp1 is 1.288-1.333Trade active
beautiful move, exactly what i was trying to catch. More downside to come for tomoTrade active
took off 66% of the position at 1.13I still think this could go to .91-.85 at least if not lower
all in all, I had my stop loss hit 4 times for -3% each time
but the last entry i took has given me a 27% move
a perfect example of why sizing is important in trading
looking back i guess a wider stop loss could have made this setup more profitable but profit is profit
Trade active
added more to my shorts here at 1.12stop at 1.33
take profit 0.91 0.833 0.677
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