I closed my remaining CTX position today as it has now made a lower swing top beneath that trendline. The push above 10.50 yesterday was good area to take profits on that options expiry and the renewed weakness today was questionable.
Should we remain above the 50% fib level i suspect with any market strength that she could push up to my target area however my rule is if there is a lower swing top you don't go long!
Will keep watching.
This weekend i will try do a huge update as i want to get back in touch with the market and make a few good trade plans so i will try post a few thoughts and maybe the system for fx im trying to develop
:)
About Me
- Scott Williams
- I am a young invester/Trader, i mostly focus on Short term or Intra day trading on the equities or Forex markets. I have recently completed my Bachelor of Commerce double major in Finance and Property. I have also completed my RG146 in securities and Financial planning and while trading is a passion my desire is to work within the stockbroking industry or as a trader for an investment bank. This blog I have set up to help share ideas to others on trades and tips i have picked up from my time in the market. I hope you enjoy my blog and some of my ideas :)
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