i have pair correlation on all pairs below
GU GJ EU EJ
in order to maintain my trading , i need to verify whether the weekly (W1) or monthly (MN1) chart on my side or against my side
if W1 chart within my side , i will need to check MN1 chart
for instance , current trade setup is long (bull)
if W1 bullish but MN1 bearish , i will close my trading and waiting for next candle movement.
if W1 bullish and MN1 bullish , i will maintain bull trading until next candle to verify next movement
if W1 bearish but MN1 bullish, i need to wait for the next candle to verify next movement , also to put more long trade to counterattack ;-)
if W1 bearish and MN1 bearish , i will close my trading and start to setup short trading
This applies to short trading too
fyi , it is all abt W1 and MN1 chart , as i'm trading with lot which equals with my money mgmt
e.g 2 dolar per pips or 1 dolar per pips
if i wanna do short-term trading (TFH1&TFH4), i will need to open chart with Elliot wave count and trendline too:-)
No offence, but just by looking at your margin level already contradicts your trading strategy. Weekly charts and even monthly charts? With this kind of risk management? Trend or no trend, you are THAT close to your margin call. Weird that no one else is pointing this out.