4/5 may trading lounge fx, page-3

Congrats Kaineupton on the inaugural floating of the fx weekend lounge, busy weekend for me so I will pop in when I have time.

Starting off what did I take out from last week.

Namely Euro came to the earlier impression that on the weekly chart had turned positive, might have even been some consensus in our forum group?

The payroll tanked the chart and I ended up counter trend trading. This was painful and scraped out with just under 3pips. This was Friday so I fought against or was in contradiction with my longer term analysis. The weekly close was to be printed on this session. Also discounted the support at level of the bounce.

Again longer term should trump the shorter term for sheer reason of the size of players that operate in each time sphere.

My belief in picking up pips on the downside would have invalidated the green candle i expected on the weekly graph.
I should have tried to ride the up momentum on friday. Mind you it took an extraordinary 4h candle to paint it green.

Regards RM