Monday, December 12, 2011

TITZ:1 GBP AUD


The 1st trade following the TITZ test,

Be Bold - be consistent and disciplined, go in 3 lots and scale profits out.

Although Scaling out is not how Grant does it because in general you don't scale out losses.

I can't remember why I chose to Sell, maybe 'cause the curve was leveling out and it looked like the 23% would hold as resistance, anticipating a continuation down.

On the 5 minute you can see some strong momentum down which would have encouraged me.

I held the stop open to see if it would bounce, which was a test on discipline.

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