Trading With Linorth
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This is my analysis on #AUDUSD, which I did yesterday afternoon.
If I were to follow my usual strategy of trading with the trend, I would have gone in with buy orders for the top line of the channel, and at the top of the channel, I would have bet against the break out and would sell it there..
But instead I fell into the old trap of catching reversals, and ended up losing money on an obviously profitable trade.
This chart alone would have given me at least 100 green pips in less than 24 hours, yet I lost about 40 pips on it.
If I were to follow my usual strategy of trading with the trend, I would have gone in with buy orders for the top line of the channel, and at the top of the channel, I would have bet against the break out and would sell it there..
But instead I fell into the old trap of catching reversals, and ended up losing money on an obviously profitable trade.
This chart alone would have given me at least 100 green pips in less than 24 hours, yet I lost about 40 pips on it.
#AUDUSD - watching - triangle pattern, waiting for a breakout to the upside.