Alright I have decided to start a trading diary in order to get some feedback and ask some questions about trading. So as I have just started i decided on just focusing on the EURUSD asset to trade for now. Due to school I am only able to trade from 12-14/15 GMT on most days,tho i heard that this is a pretty good time for the EURUSD with high volatility. I will probably be using the communitrader demo trading when i do start (I have made 2 trades on it but they were not taken seriously and honestly pretty risky and bad. Although it has long expired it shows me that it is still an open trade, not sure if that is a bug).
Today is the first day and i have drawn some trend lines as well as S/R lines on the EURUSD chart based on all the timeframes (From M5 to Monthly).
^^That is the H1 chart for EURUSD.
I came on at 12.15 GMT today and saw that i may have missed a potential entry from the large bullish candlestick with its wick touching my trend line.
Here is the M15 charts.
As you can see there was a doji green candlestick which touched my trend line. I came on around half an hour after that and say this big bullish candlestick. The stochastic for the M15 were oversold and H1 were still undersold but i though it was because the candlestick hasn't closed yet (im not that sure actually correct me if im wrong) and so i thought thats wasn't a good entry since pice already raised quite a lot.
After that i continued to monitor my charts as i did my school assignments XD and was wondering if price would fall back to the trend line/support which i drew again but price was sideways for the rest of my time monitoring the charts, so I did not get to place any trades on my first day. Since nothing really happened after that i started wondering if that doji cnadlestick was a good entry. Stochastic on M5 were hovering around 30-35 for the 3 candlisticks of the doji M15 candle, and for M15 i dont really know how to explain it, H1 was oversold. At times like this i'm not sure how much i should rely or trust the stochastic so i would like some explanation on this since i really wasn't sure about what to think about the stochastic here. I was leaning towards taking that trade but was not sure about the expiry also so it would be nice to hear some opinions on this.
That's it for the first day thanks in advance for everyone helping me (also pretty curious about how the candlesticks will develop while i am asleep/at school)