EUR/USD
The euro was trying to go below 1.0960 on Thursday and broke through the important support level of 1.0990, yet, buyers are showing strong resistance.
At 13:30 UTC, the US report on non-farm employment for January is expected. There are high expectations of up to 200K.
You can sell the euro from 1.0990 and stop at 1.1035.
About psychology.
Many traders have serious psychological problems. They can't keep a profit, they can't take a stop on time. They open trades without having the correct signal. Signals when opening a trade are necessary.
In the case of trading fuzzy approaches, especially intuitive trading, a trader almost inevitably falls into a psychological dependence on his own idea of the market and on the result of past transactions.
How to cure it?
The most effective means is a rigid TS (trading system) - completely rigidly prescribed and defined, "not a step to the side." When trading in a rigid vehicle, the trader is accustomed to the almost mechanical execution of strictly defined actions, meaning, when there is a signal, we open a deal and when there is no signal, we don't do anything. When a deal is open, we exit by profit or stop in a strictly defined TS place.
The problem is that absolutely rigid vehicles tend to find a place in the market with a large number of losses. In order to minimize this risk, mechanisms for "emergency exit" from the situation must be built into the vehicle in advance so that when faced with force majeure, the trader knows what he will do.
Having a rigorous TS is the best cure for the psychological problems of trading.
