2 charts comparing trends.

The original plan, using bodies and the new thoughts using wicks and extremes.

Once again, the original plan succeeds overall.

wasp

'they' say, luck doesn't come into it. with a solid plan and discipline, luck should not be part of the equation. Normally, I'd tend to agree but this week, luck has been the factor for me and not in my favour.

Of course... are there times when I just didn't realise my luck (thanks Slevin!) but atm, can't say I'm happy about things.

There have been 3 pivotal points this week.

Firstly, in order to tighten my reigns on risk, I have a 4-loss-run 'rule' which...

wasp

When it comes to the markets, I am a firm believer of 3 things.

1: Support and resistance
2: Trends
3: Each moment is unique and should be treated as such

The problem is, I cannot practise what I preach.

Up until a month ago, I used S/R on the 240m charts and it worked well... It worked well for some time and thus, I really felt confident in my view of the market and fullfilled my 3 rules.

On the huge drop, I misdrew the important levels...

wasp

They are the pinnacle. End of. I know that but...

I would and should have made 640 pips of this drop and should still be in. I have actually given back 2 weeks of gains. Why?

In a nutshell, I had misdrawn my S/R. I see also how a smaller timeframe could compliment and help but the vital part I need to perfect is my S/R levels, especially when the prior S/R is so far back.

Had I placed the levels 5 points higher on each level, it would have been sweet....

wasp

Well, I totally and completely fucked up what should have been a beautiful week.

I am going to add to this but in the meantime, I have to calm down as at the moment, I only have one thing to say....

**** **** **** **** ***** you get the picture!


48hrs ago I was moaning GJ was dying a summers death.

48hrs ago I posted it would drop as shown in the dailies.

1hr ago I had bought into the drop 5 times and given back all of the last...

wasp