Yes, I had that in mind. What concerned me -- and I cancelled my
order before it would have been executed -- was that the price
could have yo-yo'ed down and up. I did not expect the symmetry to
be broken on $rut -- and it hasn't as of the close today -- and the
price moved up today before it reversed. So my order would have
been picked up, then become profitable and after that stopped out.
Since I could not convince myself that such a scenario could not
happen, and I am not in a position to watch the trade at work, I
opted for a more certain setup along with the trend rather than
against it. Hopefully tomorrow the price will reverse and the same
trade would play out in the opposite direction.
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Title: I had that in
$rut is forming a doji today
Posted by junkie on 22nd of Oct 2014 at 05:58 pm
Yes, I had that in mind. What concerned me -- and I cancelled my order before it would have been executed -- was that the price could have yo-yo'ed down and up. I did not expect the symmetry to be broken on $rut -- and it hasn't as of the close today -- and the price moved up today before it reversed. So my order would have been picked up, then become profitable and after that stopped out. Since I could not convince myself that such a scenario could not happen, and I am not in a position to watch the trade at work, I opted for a more certain setup along with the trend rather than against it. Hopefully tomorrow the price will reverse and the same trade would play out in the opposite direction.