Here’s the results of the trading week. Something I don’t normally show as it’s a distraction. It would be a distraction to try to make the figures each week. However, a good start and finish to the trading week.It is not wise to trade if we have distractions. And some distractions are important, so I didn’t trade much mid-week.
On a different note, something obvious to me this week is that trading is largely about dealing with contradictions. No wonder it’s not easy.
Below: 1-hour chart, 15-minute chart and 5-minute chart. Each chart is of the GBP/USD pairing and for the same current time. You will notice the purplish line through the middle of each chart which is a ‘value’ line. (or linear regression). Price tries to get back to value. However, value depends on the criteria taken into consideration. The trader trading the 5-minute chart is looking for a different value to say – the trader trading a daily chart. They contradict.
And it is a traders skill to determine which timeframe they wish to trade and which higher value line may have an influence over them for the timeframe they have chosen.