This is a 15 min time frame, trend following set up. Price action looks uncertain and nosing slightly south.
As a trend follower, you know that you have to give the market much room to oscillate. Trend is more important than price.
Nothing in this set up means that I know the trend will continue south. All I can do is take an affordable loss. Hence, you find no predictions here. Why? Because I'm not predicting. I'm following.
New traders need to be very careful in these set ups. Expect a loss. Control it. Make it affordable. I always talk about losses - that thing that lots of traders don't want to hear about.
If the trend continues south, I can't know how far it will go.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
As a trend follower, you know that you have to give the market much room to oscillate. Trend is more important than price.
Nothing in this set up means that I know the trend will continue south. All I can do is take an affordable loss. Hence, you find no predictions here. Why? Because I'm not predicting. I'm following.
New traders need to be very careful in these set ups. Expect a loss. Control it. Make it affordable. I always talk about losses - that thing that lots of traders don't want to hear about.
If the trend continues south, I can't know how far it will go.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
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Controlled loss taken
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