My take on the new trades:
EUROUSD
The weekly was bearish and today, it ended in a bearish engulfing. So 2% risk is justified here. I can see this pair go all the way to 1.2900 ish
GBPUSD
I said before this pair is in a downtrend, and the long candle that ends with a perfect shooting star speaks of a bearish power coming into play. So i'll short it with only 1% risk since I am a very aggresive trader AND there needs to be further bearish candle in order for me to risk 2%
NZDUSD
Like GBPUSD, except we ended with a spinning top. Since the weekly is bearish, I have to short it with 1% and wait for further decline to sell more
AUDUSD
Same as above, but I took this to be last in rank since there is a fractal formed on 1/8/06 that is very close to my entry. But I entered anyway since the weekly gives support, but only with 1% risk
Basically if tomorrow proves these trades to be on track, I will my add my positions wherever necessary. This is somewhat a new thing for me because I never added positions before so I might encounter some psychology hesitation.
EUROUSD
The weekly was bearish and today, it ended in a bearish engulfing. So 2% risk is justified here. I can see this pair go all the way to 1.2900 ish
GBPUSD
I said before this pair is in a downtrend, and the long candle that ends with a perfect shooting star speaks of a bearish power coming into play. So i'll short it with only 1% risk since I am a very aggresive trader AND there needs to be further bearish candle in order for me to risk 2%
NZDUSD
Like GBPUSD, except we ended with a spinning top. Since the weekly is bearish, I have to short it with 1% and wait for further decline to sell more
AUDUSD
Same as above, but I took this to be last in rank since there is a fractal formed on 1/8/06 that is very close to my entry. But I entered anyway since the weekly gives support, but only with 1% risk
Basically if tomorrow proves these trades to be on track, I will my add my positions wherever necessary. This is somewhat a new thing for me because I never added positions before so I might encounter some psychology hesitation.
Working towards CME membership