EURCAD long trade on 23/1/25
Pre-Analysis:
- Trade based on trend pullback.
- Currency strength EUR = +4, CAD = -4
- Risk $10, target at 2R.
- Entry time 9:40pm (New York session)
- Immediate strength meter
- Another scratch trade.
- This was a FOMO trade.
- Immediate strength meter also not at the required level.
- I believe my understanding of trend pullback concept still not there. There was no 'deal' in this trade. I myself label it as a 'deal' while in actuality was not.
- I may change to look for a 'deal' from daily timeframe. As now Urban Forex has their market analysis session every Monday, I will take their input to find my trade setup.
- Will also abandon calculate for strength meter, but will focus on the flow of market and correlation.
- In mean time, I will trade also my scalping trading system with always target 1R profit.
- Update (28/1/25), price did went up starting on 24/1/25 and only able to make slightly new high until 25/1/25.
