EURGBP – 50
EURSEK : +50
NZDCAD : -80
NZDCAD is a trade which helped me to think about if momentum is still aligned with the trend or not.
I got the direction correct and prepping to play off the wrmb wtt was correct, as I could not see any magical lines.
On hindsight, the jagged up and down days resulted in a loss of momentum, or to be mroe accurate, the momentum was not with the bears anymore but the bulls. Observation of a good test , will then be the life-saver that can prevent this trade from turning into a loss.
A good test and a gd close below the 2 h4 pivot should then be what I have to wait for.
What then is an example of ” with trend , with momentum”?
h4 boxes down , and h1 boxes were down also. In successive down weeks boxes were down. hence when one of the h1 box seemed to be up during the day, I took that as a intraday bulltrap which aligned with overall down trend and momentum.
Managed to TP this and hence shall be using this as a good example of what I need to continue to do in order to be successful and profitable. Continue to sieve out the simple markets, and trade them.