The current market trend is in transition which leaves many traders searching for the next entry but the challenge is that the strategy that worked in the prior market trend will not be as effective as market psychology shifts.
The first step is to identify the shift and in the current market environment, the shift has been away from the individual currency stories that were the driver of most of the movement in the pairs I was trading.
Without these currency stories driving pair movement we see the chop and uncertainty which lead to the lack of follow-through…much of which has transitioned daily time frames that were in trends into “two to four o’clock” chop.
Since the bulk of my trading comes from a watchlist of pairs that have trends on their daily time frames, my own trading activity has to slow down since this list continues to shorten.
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This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.