3 more weeks before 2014 ends. This post shall be focused on thinking about the way I thought back in 1-2 years ago. I do see the evolution in thoughts and this analysis should be a good archaeological find.
The bullish channel or bear flag dilemma
Since the start of the terraseeds journey, the make or break situation was always presented to me. While it did pose a headache to me, I had, in recent weeks finally come to a good answer: to assume the path of least resistance and current momentum as priority choice.
This is because I want to see immediate pips.
Following the momentum with MY levels, rather than pre-empting turning points, will have much higher probabilities.
EURUAUD case study presents the classic conundrum of bullish channel or bear flag, and in that situation i chose to go by bear flag.
This means in h1 : I am preempting the flow to reverse. I am trying to make life difficult for myself. I am shorting into low, since there was no 13TL at all. I am shorting into MY levels, which I have a lot of respect for.
WHICH IS ALL WRONG! And these are negative concepts which I am currently working to purge it from my system.