Sold everything at 1.2080 ... my gutfeel says this isn't the end of the bullmove but got to see the dentist this afternoon so got no time to babysit this so I took the 'logical exit'.
Interesting view, yes everybody and their dog were expecting parity and that probably got some people overextended in their long view of the dollar ... monthly ema200 will be interesting ...
Also having multiple tf's on helps in sticking to my strategy ... 'like the proverb says: it's the sitting on my hands that made me money' ...
but there is more to it, when the trade rolls along the timeframes it can help in setting targets when I might have a countertrade ...
I probably could trade of 1H only ... but having 2H/3H/4H on helps my overall reading of charts more clearly ... that would be my edge in having multiple time intervals ...
don't know what is driving eurusd higher but there is a clear bullmarket on all of my charts ...
Like some people said repeatedly to me: just trade with the trend :-) I had to learn that truth the hard way ... Trend is clearly up in eurusd on all my timeframes ...
yes, I heard other people trading these smaller tf's with succes, so I do know it should be possible but it's not for me, I seem to be losing my senses when I go too small in tf and getting impulsive/emotional in my trades and not in a good way.
this kinda of feedback (although not really expecting it) is the reason I started this journal ... so far I am satisfied in that part and appreciate it ...
yes, you (and others) finally got the message through: trade with the bigger trend ... I adjusted my setups for this ... as a former market maker in options I was de facto a mean-reversing trader ... that however doesn't work in directional trading unless on occasion as an exception to the rule...
what I basically like to do is looking for five patterns:
first being: morning stars and evening stars on 1H or 2H in overbought oversold against the main trend that roll into bullish or bearish engulfers that will take me to the 50ema of the engulfers timeframe can be 3H/4H or 8H.
second being...
yes, you nailed it exactly: I'm strugling with my emotions in the proces of finding an objective approach. The latter is harder than I thought it would be. And I seem to be taken away by my emotions further than I would like it to be. Since I noticed that problem I tried to put my brain into...