DislikedRe-visited the AU to see if I had missed any trades, there would have been two entries, one during the Sydney session and another during the London session. Why did I lean towards buys? I looked at the ADR of AU prior to the weekend and both entries closed below the ADR low. That was what I gleaned from the charts and the additional confluence I used to support my hypothesis. Both entries despite valid would have been stop outs, but we take it on our chin and move on. {image}Ignored
When I start my trading day I have a good look at charts but I always remain neutral on direction. This is because you may not get a signal until the open.
I will show you how I prepare charts.
As the day progresses you will have your levels established and ready to go.
You can update the levels at key reversals through out the day.
The important thing to take note of is ' How is price behaving prior to market open.
Remember price gets pushed up and down prior to market opens to fill large positions.
Some days you get easy setups some days not so clear, but you should always be able to find your trade.
Look what you have made me do. Got out of bed to answer your post and ended up putting a trade on.
Got it to breakeven
Your trade order needs to be in the right place at the right time.
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