New pair trading opportunity today?
Updated
VGK/EXG is showing a signal for a long position starting today, and all indicators support what appears to be a promising opportunity.
I will monitor the market throughout the day and make a final decision on this trade by the day's end.
- ADX: Indicates no prevailing trend in the pair.
- Correlation: Remains high.
- Price: Positioned in the oversold area.
I will monitor the market throughout the day and make a final decision on this trade by the day's end.
Note
Although all indicators look favorable for this trade, I have decided not to enter it. After reviewing the historical performance of trades in this pair, I found an even split of 50% winning and 50% losing trades when all indicators triggered entry signals.Given the importance of risk management in trading, the risk associated with this trade is too high. Therefore, I will pass on this opportunity.
I will continue to monitor and provide updates as needed.
Note
A negative trend entered, and the pair is going lower today.Good decision to not enter!
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