A trade setup has formed on EURGBP. Good upward trend, RSI has been retracing and is now up, EMA is sloping up, stop loss at previous fractal. Go long.
A trade setup has formed enabling to go long EURUSD.
Price above cloud, EMA and Kijun trending up, stop at last fractal.
My stop was hit on the long EURUSD, then the pair exploded.
Another case of retrace taking me out with subsequent continuation of the trend in the right direction. No problem, but a very bad start of the month with mainly losing trades so far. I do however have two open trades that are in profit. I’ll have to manage them well to get the money management machine to save the day. No change in the strategy, no revenge trading, I missed a couple of good signals that happened during midday but that’s how I trade, nothing I can change and it’s been profitable so far. So this month is a typical case were psychology usually drives you to overtrade or shift strategies. I’ll try and stick to the rules without emotion.
Retrace stopped me out,
Long signal on EURUSD
Apart from a few pairs nothing is trending. It looks like one of these consolidation phases when my momentum system underperforms. This is an indication to remain on the sidelines unless clear signals appear and real trends start initiating. Let’s be patient, some significant news events are on the docket for the end of the week, that might get things moving again. Safe trading to all.
Have just taken a long USDCAD. 21 EMA sloping up, good trending pair, low risk with most recent fractal very close nearby.