Trades from 5/19/2021 and 5/20/2021
The trade on 5/19 was pretty straight forward. It rejected the resistance and it had bearish momentum on higher timeframes.
But for the trade on 5/20 I sat on my hands due to USD having news and me thinking that it was going to affect Dow. Which is also why I took my trade out early on the trade on 5/19.
So what I learned was that not every USD news affects Dow and that I should be more confident in holding trades especially if I'm risking more than 40-50 pips so my wins are way bigger than my losses.
One of the main reasons I took the trade on 5/20 was because it was forming a W on the higher timeframes but I messed up on my entry due to me having FOMO since I missed out on clear trade due to me sitting on my hands.
But for the trade on 5/20 I sat on my hands due to USD having news and me thinking that it was going to affect Dow. Which is also why I took my trade out early on the trade on 5/19.
So what I learned was that not every USD news affects Dow and that I should be more confident in holding trades especially if I'm risking more than 40-50 pips so my wins are way bigger than my losses.
One of the main reasons I took the trade on 5/20 was because it was forming a W on the higher timeframes but I messed up on my entry due to me having FOMO since I missed out on clear trade due to me sitting on my hands.
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