Disliked{quote} Last week we had a 3Bars Swing High reversal on D1 chart. I wont be buying this week. Not yet... I'll wait. On MN and W1, we see longer term and medium term technical resistance. What does fundamental say? What about the current market sentiments with the Yen? Quite a few key things happened last week. If we buy this week, where do we want to place our initial SL for Position Sizing and where to Cut-Loss when when we are wrong? {image}Ignored
now that you pointed it out, it looks like for the d1 timeframe price might indeed go be heading lower long term
still will be watching though to see if h4 produces any bullish short term pips
i'm not that clued on fundamentals with trading. sometimes market react bullish to positive news, sometimes market react bearish to negative news as I found out when trading fundamentals when I was very new to forex trading ... I have seen no good topic on fundamentals here at FF of which to formulate a strategy
if buying this week on a SE trade, then sl would be at the low of the inside bar if taking the trade on an aggressive IB breakout, no idea where to place stop loss for me/me or cut loss. I think I am wanting to get consistently profitable with SE entries first before thinking about delving into any me/me stuff