Forex Useless Analytics August GPB/USD - Part 3: Stop Loss Touched, I lose 100pips !!!

INTRODUCTION

Please read previous post here Forex Useless Analytics GPB/USD Part 2 and Forex Useless Analytics GPB/USD Part 1

ANALYTICS METHOD

Recognizing the market's behavior by analyze candles. Using Boilinger Band, and reading news update for support. But in this post i dont write about how i analyze the market, but just telling you what action i will do from my analytics.

If you have another result, i'm really gladful to hear from you.

3rd Analytics

GU Agustus st3.jpg

I'm drawing Monthly Trendline (sloping down pink line), Price Barrier (two horizontal pink line), and you can see Monthly Boilinger Band (pink dotted line), and Weekly Boilinger Band (blue dotted line). note: Monthly BB you see is Medium and Lower BB.

You can see the prize is climbing into the Price Barrier and also Upper Weekly BB. This is crytical time to decide whether the price will going up or going down.

In Part 1 i wrote that i'll take a SHORT if monthly price test the Barrier/Weekly BB, and closing inside or below the barrier. But i've already take a short (green dotted line) - Part 2, why? Because the Barrier/Weekly BB has been tested, and weekly price close inside the Barrier. This week is potential for short. I also wrote a note that we still dont know where this month price will be, so there's 100~100pips of loss RISK in my opening. So, i set 100pips Stop Loss.

UPDATE:
WOW as i said in Part 2 that we have loss RISK. After goes down for 400pips this day, the price is climbing again above Price Barrier and touched my Stop Loss. So i loss 100pips ^^

Q & A:
Q : Should we go for LONG ?
A : NO. Even today price is climbing but we should wait until this month closing. Learn from my loss today, that we should patience and always strict to our target. It's about management and pshycology training.
Q : but aaah i still want go for LONG.
A : NO !!! PATIENCE is VIRTUE.
Q : So, what is the target?
A : As i said in Part 1, wait until monthly closed, and decide.

See you in the next post