News trading idea [CAD CPI Retail sales]
Yeah another unfortunate trade. But all things have something to learn if we look for it again.
I looked 4h, weekly, daily, monthly to avoid potential trend risk.
Then saw 200sma to see if its under valued or not, it was almost same line as ratio.
Then looked for 1h macd it was indicating short signal.
I noticed something was off like the trend was already started, 200sma was doing both support and resistance, 5 min macd indicating long.
Times like this which i am confused or not sure i would skip the trade and see what happens when the news come out.
This time not sure why i took the trade maybe my ego became the best of me or something else.
But there is always better trade next time so we wait and learn from the mistakes.
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