USDCAD long trade 1/11/24
Pre-Analysis:
- Trade based on H4 timeframe. Tried to capitalize on pending news release, NFP.
- Time of entry 2:41pm
- Lost trade.
- State of market was in channel, and my entry right at the top of channel which need to break this channel inorder to give me profit.
- Price unable to break channel.
- My mistake didn't consider state of market at all.
- Should focus more on trending state market.
- Next trade I will consider state of market in my pre-analysis process.
