Trading is not only about entries as it depends on how you manage your risk. There are several entries are always on offer but do we need to take or consider all of them even as to practice or check trades ?
Understanding price action is way beyond making consistent profit. You can analyze multi pairs at a time to make best use of the entries on offer but we must think of the risk we are taking on so called cherry trades. There is no doubt that big players, banks and institutions manipulate traders as they can push the price in any direction but as a retail trader we must accept the fact that our trading activity should be limited considering the fact play a waiting game.
-As far as my trading is concerned, I usually don’t trade too often as I don’t have to but if there is a reward of 15-20 times of the risk and reaction don’t let me wait for weeks for choppiness then I always put the foot on the paddle. Higher time frames does help but if even they are looking direction then I don’t bother to look at daily activity.
-Forex trading is somewhat different in a way that it can move in a week from downtrend to uptrend but as we know market trends 30% of the time and we have to take decision that when we enter market trends should resume or keep moving the way it was earlier.
Daily time frame is good area to watch as I told.in my previous post. Price action does require fuel to trend and there are some late entries when targets are reached and happens stop hunting before another big players resume the trend and this type of activity is usually done within a month.