Long overdue analysis. Two live pending orders placed one on the eur/cad and one on usd/cad. These risky positions are discussed thoroughly.
Good Trading.
Short and sweet analysis of bitcoin, gold and some main pairs. Walking through these trades and thinking about the logic behind our patterns we've walked into criticality and pareto ideas that I can see already buried as an intrinsic component of our self similar patterns or even alignment of signals across scale. Its not clear to me yet if the alignment of patterns across scale must be self similar or if the patterns can be entirely different but contain similar meaning. The self-similarity therefore is in the meaning or 'signal' the pattern possesses not the shape and structure of price itself. That better and worse setups are heavily informed by the degree of perfection of self similar signals or patterns is a very obvious but up till now entirely overlooked clue that we've in-fact been selecting for criticality this whole time in the development of our trading strategy.
These ideas I will hopefully circle back to later in the week.
Good trading.
A few ideas on some pairs for today. The funny situation when our s-wave pattern isn't exactly clear or its relative size is too small had us sitting on our hands unable to act since this situation fell outside of our system. The strategy brought us to some general location and identified the waves we ought to be interested in trading however the exact entry and the specific reasons doesn't fit the logic builds the s-wave pattern. There are separate concrete reasons to trade such situations, perhaps not every single one but many of them. Namely that the possible smaller s-waves either need to be treated as independent trades buried inside our waves (if they are truly small) or rather we ought to expect some retest of our rough entry area if they are almost of appropriate size. In-between those situations you have the option of closing out partial profit early as the s-wave cannot be cleanly said to be either independent or connected to the larger wave in question. Once the pullback does occur however the question around pending orders reemerges here. It appears pending orders are sometimes acceptable but never because the associated levels of s/r are strong but rather because there are additional reasons pulled from context that weakens the pullback as it moves towards these levels.
Good Trading.
Edit:
Eurgbp trade. Closed off the whole position at around 13pips avg.