Today I made 6 trades, with 3 in profit and 3 not in profit. unfortunately the out of profit ones cost me today. My GBPAUD trade today was kind of typical, where it seems as soon as I enter the move grinds to a halt or the definition of the direction becomes vague doubting your original decision to enter the trade. I could be getting in too late; maybe hesitating too long and missing the proper entry or, more likely, just need reading the cyclicity well enough.
Anyway, on my chart of the day, I took the GBPAUD break thru the Pivot Line with a view to R1. Cable had started a move North and USDAUD was weak also, so helping me to make a call. The trade was on for several hours and with MACD weakening consistently I bailed out of the trade at basically breakeven.
One thing I have noticed when analysing many of my non-performing trades is the interpretation of the direction on the longer timeframe charts to aid the decision-making. I should place more emphasis on 1H timeframe, then 4H and then daily when establishing if I am looking for Long, Shorts or Flats on a particular pair. I need to work harder on this part of my trading.