(-90, -60 , -70,-80) GBPAUD week4 Right direction , wrong timing ,lack of conviction.

D1

Started the week with a good plan of what to do.

week4 GBPAUD h4t support to break 170115

h4

Came out with this bias on monday. My tendency is that the first analysis is always right, in the middle, I tend to mess up things by being fickle-minded. Note to self will be that for an analysis, there should only be one mode of entry.

This analysis presented only a long situation.

week4 GBPAUD h1 bear trap macd divergence 190115

h1

Outcome : unforced error

week4 GBPAUD h1 very bad n losing entries 200115

Summary

I did well to be able to identify that GBPAUD has come to a strong support,and that current setup favours proposition of bullish countertrend play rather than, a continuation of bearish downmove.

In this aspect, I did well as compared to previous times where I would still stubbornly look for levels to short from.

Yet, I also need to be aware that I am still lacking in skills to have a very good entry point that allows immediate movement.

1) To overcome this, I must exercise restrain. Not to jump head on without seeing a CLEAR bull/bear trap first.

2) Wait for best price, especially on big pips pair such as GBPNZD , GBPAUD , GBPCAD etc.

Patience, Patience , Patience.

3) I also need to be steadfast. In the case of flipping to short. I was too hasty. It was truly a bad habit which i had no idea where I ahd acquired it from, but one which was developed overtime. To flip short, I will need to wait for an expansion first.

My most reliable technique is to

“BUY ON DIPS, SELL ON RALLIES”

via flags pattern.

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