It looks like I'm back to another losing month where I'm trying to make sense out of my indicators and getting it to work conveniently for me like an artform. For me, the story goes like this. I want to first know the directional bias of the market for the week. The indicator I'm using is a simple oscillator that shows me up or down at any moment.
Next, I want to check if the price for today is at a favorable level to make a trade or is pointing in the same direction. I'm using a trend level indicator and/or the same indicator from the weekly.
My last check is on a subset of the daily chart from breaking it down to 4-hour movements and looking at practically the same thing as I did with the daily.
What I have going is based on how the week is doing and deciding if today is a good time to get in with set parameters, get out early, or switch directions.
