How does one talk about his daily watch list, when there’s nothing he’s looking at for the day?
I can talk about the pairs I’ll be eying up on Monday but then Monday daily watchlist won’t be as interesting now would it?
So let’s dig into my NZD/USD short trade
Starting from the higher timeframes and going down let’s mention the weekly (the monthly wasn’t very interesting in my eyes)
In this picture we can quite easily spot a string of four imbalance candles that pushed the price into a rather strong bearish move, so we have a higher timeframe stack there, that’s all I wanted to see there
Now onto the daily chart:
Here on the daily we can draw three different imbalance zones, all three were valid in my eyes, I still wouldn’t be surprised if the price went higher to reach the third one before the drop.
However, it’s about executing on every opportunity that fits my plan, so I took the trade with no hesitation.
Let’s have a look at the 4hour chart
On the 4hour chart we can notice a clear engulfing candle that respects the script I am using to identify entries so I executed the trade.
My stop position was according to my plan, and the same goes with my profit target.
I’m still really enjoying myself reading Surely You’re Joking Mr Feynman – definitely worth it
Here’s one of my favourite quotes from it so far
“All the time you’re saying to yourself, ‘I could do that, but I won’t,’ — which is just another way of saying that you can’t.Richard Feynman