Universe work using Technical Analysis
Isn’t it strange? No one is operating or manipulating my account to draw these perfect technicals. But universe and mind! You can’t control this but understand this with me.
At first, this was hard to believe how perfect mathematics work on my account. So, let me explain things a bit easier- This blue line on the chart with lots of ups and downs is the balance of the trading account which I trade in one of my accounts. These black & red lines are connecting lows or highs i.e. important returning or fluctuations of this chart we called them trendlines.
So, what actually happened here is I am facing a hell lot of stop losses after 1st week of June and my win ratio came down to 30–35% which is giving a bad average amount of winning trades. All n all it’s a losing game for me but all thanks to my patience and risk management skills which is developed in the past 6 years, I am able to survive this phase.
Let’s discuss the chart attached above- Right now the capital of this account at the same time distance area from high, which took from the lowest low to reach the highest high. Give it a try with your approximate calculations.
Its balance right now is in the support of the trend line, which is giving me hope of reversal. Anyways first look at how perfectly this created a falling wedge and then it broke down from a rising trendline and then breakdown below that wedge and came down to the exact same calculation which was an expected target area according to technical analysis! This chart is down around 50% from its all-time high which is again a good Fibonacci retracement from the next big wave upside.
What can be done to protect this support trendline to break & start recovering from here? I will be going to wait until the considerable perfect setup and will going to trade it with low to medium risk. I and you should keep applying simple technicals on our accounts to understand in which phase we are right to choose how to play now (aggressive or defensive). Always remember, we need to grow continuously in the bigger chart but in smaller phases, there are times when you accept your defeat to survive for a comeback and gain all your losses slowly and continuously.
Good luck & keep rocking champ
Sahil Saini
