[REVISED] TRADING STRATEGY FOR WEEK 30 (25 - 29 JULY, 2016)
This is a revised version of my strategy for next week.
It looks like we are about to complete an ending diagonal. Therefore, on Monday I will look for a chance to close all my short positions at break even. If there's no way I can do it, I will keep the short position and build more short around 1.92 level.
I will not attempt to make any long positions. I would rather close my current short positions instead; then re-position these shorts at higher altitude.
If the price drops aggressively then I will just put my stop loss at break even. I do not intend to add short position until I can be sure that the ending diagonal is completed, or, that the ending diagonal is not the correct pattern in this situation.
It looks like we are about to complete an ending diagonal. Therefore, on Monday I will look for a chance to close all my short positions at break even. If there's no way I can do it, I will keep the short position and build more short around 1.92 level.
I will not attempt to make any long positions. I would rather close my current short positions instead; then re-position these shorts at higher altitude.
If the price drops aggressively then I will just put my stop loss at break even. I do not intend to add short position until I can be sure that the ending diagonal is completed, or, that the ending diagonal is not the correct pattern in this situation.
