I am leaning towards more of a bullish projection but I'm not sure yet it's too early to tell and I do not trade on Mondays.
It looks so indecisive at the moment, so I need to wait for price to break out and show me what it wants to do. Don't forget we are stuck in choppy and unclear behavior at the moment, especially on the higher Tfs, so I am not looking to force any trades. I need clear and concise price action and behavior before i even think about putting my capital at risk.
For me to take a trade i have pointed out what I would like price to do as that would give me the best position possible for buys.
If it does not retrace back to my Point of interest i will not be trading it this week or at all until it gives me something significant to work off.
I honestly just used to force trades for the sake of it and I also felt like if I wasn't actively taking trades, it meant I wasn't that i wasn't 'working' - but boy was I proven wrong. You should never over-trade or force trades if you are not 110% convinced it has a high probability or working out according to your strategy or trading plan because 9 times out of 10, it will hit your stop loss or blow your account.
So just remember if your pair/s are not giving you enough confirmations or are abiding by your trading plan/strategy - do not trade them because you WILL lose your money. Your trading plan is there to protect and guide you.
Once again - this is just what I would personally like from GJ this week and if it doesn't give me what I want I will trade AJ or not trade at all until i am satisfied with the market conditions for either or each pair :)
It looks so indecisive at the moment, so I need to wait for price to break out and show me what it wants to do. Don't forget we are stuck in choppy and unclear behavior at the moment, especially on the higher Tfs, so I am not looking to force any trades. I need clear and concise price action and behavior before i even think about putting my capital at risk.
For me to take a trade i have pointed out what I would like price to do as that would give me the best position possible for buys.
If it does not retrace back to my Point of interest i will not be trading it this week or at all until it gives me something significant to work off.
I honestly just used to force trades for the sake of it and I also felt like if I wasn't actively taking trades, it meant I wasn't that i wasn't 'working' - but boy was I proven wrong. You should never over-trade or force trades if you are not 110% convinced it has a high probability or working out according to your strategy or trading plan because 9 times out of 10, it will hit your stop loss or blow your account.
So just remember if your pair/s are not giving you enough confirmations or are abiding by your trading plan/strategy - do not trade them because you WILL lose your money. Your trading plan is there to protect and guide you.
Once again - this is just what I would personally like from GJ this week and if it doesn't give me what I want I will trade AJ or not trade at all until i am satisfied with the market conditions for either or each pair :)