I got it wrong. It happens. In hindsight, I should wait for clear and obvious signals. I get caught up in small signals and I have lost 3/4 of what I made in December. I have taken most of my capital out and left myself with £250 to trade. The Audusd bull flag appeals to me and I have entered a trade, which I'll post.
I've entered long on AUDUSD hoping to ride the bull flag to its target. I need to regroup. I kept trying to buy eurusd as it fell and then gave up just before it looks like it is now going up. That's what the market does to you. I'll wait for a clear pattern on eurusd before I invest again.
January was a horrible month for me. I realise I need to change my approach. Back to basics now. I'm going to trade the weekly charts for a while as I was getting caught up in everything and need to take a step back.
My first trade is this. Zone out and refresh.
My first trade is this. Zone out and refresh.
I'm anticipating a weekly fakeout signal on AUDUSD. I've been keen to buy as I feel there is a bull flag on the weekly. We are now at support and price is faking out. So in this instance I have gone down to the 4 hour where I think there might be an opportunity. I've often be an anticipator as opposed to a reactor, it's as I said before, the gambler in me.
