I don't really think this Update is necessary, but since there is always a lot of noise in fintwit, I will try to remember and specify something else my idea
In this medium-term trade, TP1 (Main) ✅
Now I'm looking for a bearish continuation (especially TP2)
Current situation:
The key is to break below 16049 tomorrow (the earlier the better for the move)
In this case we have:
16010/00 as first TP (intraday) (unimportant if we have a lot of movement tomorrow, and with a possible bounce to 16049/72)
If we have a big bearish movement, that intraday zone will finally be broken, and then we will reach medium-term TP2 15896/73
Adjustable in intraday to 15861/51 approx
If the bearish movement is even deeper, it would be possible to reach TP3: 15721/698 (extreme situation)
Above 16166/03 it is not recommended to open or add shorts
Yes, I am looking for a bearish Trend Day ... the most difficult thing to 'predict' in trading ... but there are some circumstances that could cause this movement tomorrow... we'll see 😅
Medium-term trade already assured (and TP1 Main✅)
In case of bullish movement tomorrow I don't expect to see more than 16298/309... although I don't expect to see any important bullish movement tomorrow 😅😂
And if nothing happens tomorrow, the medium-term TPs still active
👋
• • •
Missing some Tweet in this thread? You can try to
force a refresh
As part of these nightly tweets that I do these days ... today:
THE BAD TRADER
The bad trader makes a series of generally known mistakes, today I will try to delve a little into mistakes generally less obvious to some traders 👇
1)The bad trader chases the price, always follows the price in the markets movements
2)The bad trader denotes excitement on the days when the market makes important movements, loses control over itself
3)The bad trader overreacts to market movements (generally bullish), leaning rapidly (see point 2) to movements opposite (generally bearish) to the important previous movement, usually with too optimistic (unreal) expectations
Some explanations using the latest proposed bearish trade
Probably some traders do something similar, or will do it in another way, they may even disagree...
It doesn't matter, it is just my vision and I think it can be a help for other traders
(2/16)
CHART 1:
Simply the evolution of the trade and all the zones and indications proposed
Highlight Moment: When TP1 hit and price rapidly bounces, a common temptation is to expect a strong bullish momentum, in the session and in the medium term
Reality was very different
(3/16)
LOOKING FOR THE BEST POSITION
(associated risks)
➡️Option 1:
Too close to the bullish option, apparently better positioning, but more chance of failure
There is no significant reference level above
(Remember that for me, above 15760 DAX should reach 15850/900 easily)
This is a time when many of you think, after a 150 point trade (respecting my TPs), that you have to continue in the market ... some thinking about bigger falls, others about buying the bounce, right?
For me, here are three long-term psychological failures to be consistent:
➡️Overtrading
➡️Too greedy
➡️Chase the price
For me the main move is done, all TPs reached and the probable intraday buy zones have too much risk in this market situation (understanding the market context is very important, and very difficult too)
In fact, first buy zone is broken (15550),and the second is far away (15409)