AUD has a +6 power rating today so I will be looking to go long if an opportunity presents itself. Everyone says trade the trend, but these early trend days are hard to trade as the price has already moved a lot. I only trade with flow and the strongest flows don't usually pullback a lot. It's either going to continue gaining strength, go sideways, or reverse. I will not enter before an entry signal is received if one is even received at all.
Trade active
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AUDCAD Long
Trade closed manually
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Trade didn't move and folded so I fold. No hesitation. They say the trend is your friend, but what does that actually mean, because that trend wasn't my friend today unless they are a back stabbing friend lol. Onto the next.
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Lost 6 pips. It may comeback up and give me an entry signal, but as of right now, I'd rather standby and follow my system than to hope and wish it goes up after seeing my exit signal.
Trade closed: target reached
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Target reached on second entry. Net 24 pips positive on this pair.
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Took a while for AUD to activate, but it paid out really well today. 83 pips bagged on AUD with one trade open that may or may not move. That is why you stick with what you are doing as I got tagged on the first one then tagged back on the rest :-)
Trade closed manually
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Final note of the day: AUDCHF I closed, because I sense weakness in AUD and I want to move on with my day. Final total on AUD is 89 pips and updated final total on my entire trading day is 199 pips. Schwing! Will be back again tomorrow to hopefully add to my total on the week. Peace.