"There is no indicator, so be at ease" is a big trap! Be wary of Friday's characteristic "weekend position settlement," and commit to exiting with a win.
[April 17] Friday with no US data.
Do not let your guard down! The
Trap and Profit-Taking Strategy for the Weekend
Hello to everyone reading the blog. FX-Skull here.
Another week has quickly brought us to Friday. It was a week of intense volatility due to geopolitical risks and important indicators, but by using our system's shield (EA), I believe you were able to protect your profits firmly.
Today (April 17), there are no major U.S. economic indicators scheduled that would move the market significantly.
■ It is a big mistake to think "there are no indicators, so it will move predictably"
"Today there are no indicators, so prices should move smoothly according to technicals" is a dangerous assumption, especially because today is Friday.
Institutional investors and large traders tend to close out positions before the weekend to avoid weekend news (especially the ongoing Middle East geopolitical risks), leading to aggressive weekend positioning.
This weekend-driven buying back and profit-taking can create abrupt and irregular price movements during London and New York sessions.
On the Weekend, Exit Early with the Best Parts
Therefore, follow our basic strategy today as well.
Avoid forcing trades; target only the "best parts" where the direction is clear and quickly exit with a win.
Today, the best option is to secure profits early without chasing, staying flat (no positions) and having funds moved to a safe place for a tidy weekend. The market will not flee next week either. There is no need to dive into Friday night's uncertain waves.
Have you implemented risk management tools?
"Not having a position is also a valid trade."
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This week's final trade as well: stay calm and avoid greed.
Make a graceful exit with wins and enjoy a great weekend!
