My costliest lesson: Ignoring the bigger picture on $EURUSD
Hey everyone, just joined. Been in the markets for about 7 years now, mostly FX and some indices. My biggest mistake, one that still stings, was back in 2021 during a particularly choppy period for $EURUSD. I was so fixated on my intraday technical levels that I completely missed a significant shift in the broader economic sentiment data coming out of Europe. I ended up trying to short every rally into what was clearly becoming a much stronger bullish trend, taking multiple small losses that added up to a significant chunk of my capital simply because I refused to step back and look at the weekly and monthly charts, let alone fundamental shifts. It hammered home the importance of perspective and not getting tunnel vision on the immediate timeframe.
It's a common trap to get lost in the noise of intraday charts and neglect the macro. Even with seven years experience, those lessons still hit hard. What specifically did you miss on the economic sentiment? PMI data?