A better entry

As I wrote in the previous post, entering at the resistance and going for the breakout is dangerous for my approach. Today I entered at the local temporary roof, as price was doing little HHs and HLs and could move up. Price moved back, just 1 pip above my stop... (and the doctor told me : no stress!..).  Then price reversed and I had some gains. A better entry is pointed by the arrow, on the MA.

Preparing for the break

I have stopped trading in the last days because of a health problem. I had only these trades a couple of days ago. As price was going to break the resistance (previous high), an intense movement forward and backward took place and my stop was hit. It was too risky to widen the stop, waiting for the almost sure (?) breakout. I have done this in the past and payed  a lot.. A tight stop method like mine is vulnerable when applied on breakouts. That's why I apply it mostly when price is in a mid-range.

Bye bye Steve

"Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains.” 


“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma — which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.”