- Below 1.0630 = fresh low of current down leg on all time frames.
- Completely missed a similar signal at 77.43 on USD Index because of wrong frame of mind, much to my regret.
- Happy to be back trading with trend instead of trying to pick turning points. No regrets if wrong now.
2 comments:
hi, could you pls elaberate on this: instead of long other better performing forex against USD, e.g. AUDUSD, or EURUSD, why would you choose USDCAD?
coz if from a new low breakout point of view, other currencies has already made their breakout sometime ago.
Or maybe you believe CAD is lagging and shall outperform to make up the lag?
I know this is not systematic thinking, but just felt that USDCAD is very resilient at current level, and in early Aug, it break new lows and rebounded very strong.
thank you!
No plausible explanation here. It is just one of those decisions made by chance that turn out looking real bad in hindsight. I had a choice of AUD EUR and CAD and I picked the wrong one.
Or perhaps I am a natural bear and I prefer trading charts that look like it's being pulled down by gravity.
Yesterday's decision to turn short at 1.0630 looking really poor now but at least it is with the trend. I was getting myself well and truly frustrated earlier by going against the trend.
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