I took a long break from trading in coincidence with Chinese New Year celebration. Partly was because I was too busy to trade and partly because I am unable to identify good trading opportunity. The market has been very volatile and for the past few weeks, I have been entering trade irregardless of proper trade signals and it has cost me dearly. Now that I have learned my lesson, I will start trading with proper money management and trading system.
Today I entered short EUR/USD based on these criteria:
D1: Down
H4: Down
H1: Down
MACD: Down
ADX: Down
RSI: Above lower channel
Short at 1.3525 with profit target of 100 pips but it only went down 90 pips before reversing. I closed it manually with 33 pips gain. A good start.
Today I entered short EUR/USD based on these criteria:
D1: Down
H4: Down
H1: Down
MACD: Down
ADX: Down
RSI: Above lower channel
Short at 1.3525 with profit target of 100 pips but it only went down 90 pips before reversing. I closed it manually with 33 pips gain. A good start.
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