The FX market has definitely moved since yesterday, was a rather impressive day! That being said, there wasn’t any entries for my trading plan so it just led to the creation of new zones.
On other news, I’ve finally finished reviewing 2018 to 2020 on my new trading plan while having verified every single trade several times with other traders to argue for / against.
Which leads to this data:
Anyway…. Let’s get started
Daily Watchlist
CAD/JPY
This trade set-up has the same argumentation as yesterday, so if you want to know in more detail why I am looking at this set-up check out yesterday’s daily watch list 🙂
This set-up isn’t the prettiest one, however, having the previous daily close being bearish makes me like it a bit more since there’s a clear break of the phase line
https://www.tradingview.com/x/MQ6zNetY/
GBP/CAD
The impulsive move from yesterday brought this pair to my attention, it is now approaching a strong demand zone I’ve been waiting on for quite a while.
The weekly chart is also gorgeous, there’s a clear stack there, and this daily is rather clear.
As you can see on the 4hour chart, there’s some deceleration, I hope not too much deceleration since I’m not the biggest fan of having loads of deceleration, but that being said I am definitely looking at it
https://www.tradingview.com/x/xL0hcKue/
GBP/CHF
I like this set-up since we observed a clear bearish move and a reversal zone. This imbalance level can be discussed since there’s one that’s a little lower.
That being said, the lower imbalance wouldn’t be valid if you draw it off 2 imbalance candles so that’s why I’m not using it.
There’s a gorgeous weekly stack
The move lower was extremely impulsive, so it will be interesting to see what happens next, ideally the price moves into the zone before reversing, time will tell.
https://www.tradingview.com/x/FxYZYCkZ/
GBP/NZD
This GBP/NZD is something I decided to include on this watchlist, I am unsure if it’s valid or not.
I am going to argue the zone isn’t valid for one reason, and you’ll probably say I’m being too picky.
This zone is great, it’s extremely obvious and there’s a higher timeframe stack, it’s not great, but it’s there.
However, let me take the “this zone is great” is it? I actually don’t think it is – the doji did re-enter the zone.
That being said, it was so small, I will take the position if the GBP/NZD price goes towards the middle of the zone, it will need to clearly enter it
https://www.tradingview.com/x/ng0kfNxM/
A lot more pairs are shaping up rather nicely, that being said, I’ll keep them for when they’re on active watch instead of talking about them every day!
Book wise…
I’m reading yet another book about Marcus Aurelius, “How to Think Like a Roman Emperor” by Donald Robertson
I’m not a fan girl, just passionate!
Always want to be learning from the right people, and I think Marcus Aurelius could be that right person, it’s a shame he doesn’t have an IG account or twitter ahah
Here’s a quote I’m enjoying it
“Wisdom, in all these forms, mainly requires understanding the difference between good, bad, and indifferent things. Virtue is good and vice is bad, but everything else is indifferent.”
Tweet wise…. Here’s my favourite of the day
A nice and concise one.
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