Evolving Trade
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Recap: ETH hit the Red 1 on the previous analysis and now is looking at the old Decision 2 again. This analysis is a bit different as it is an attempt to show how Money Man is looking at the evolving of the analysis. It explains how a new trade could be initiated (if not already in a trade or if considering scaling into a current one) through looking at the update on levels. With a trade running already, Decision Box 2 is interesting, but not meant to impact on your running trade as it is the old Red 1 with new adjustments.
Conclusion: It is great to be in a winning trade, but you should not fall asleep. Money Man believes support and resistance is not static and should be recalibrated as trends, patterns, etc emerge. Winning trades should not be closed simply because things does not look great while eyeballing it and you are experiencing an emotional pang. This could have you leave some money on the table, but the latest info is often the most valuable. Remember: No guarantees, only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
Conclusion: It is great to be in a winning trade, but you should not fall asleep. Money Man believes support and resistance is not static and should be recalibrated as trends, patterns, etc emerge. Winning trades should not be closed simply because things does not look great while eyeballing it and you are experiencing an emotional pang. This could have you leave some money on the table, but the latest info is often the most valuable. Remember: No guarantees, only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
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