Just wanted to thank everyone that read the post I did about my work with Jared Tendler, I hope it helped, or at least motivated you to get his books.
I truly think it could help people out.
But let’s dive straight into my FX watchlist.
I like this set-up, the trendline that went from August 1st till early September has more than 15 candles, so we can check that, it made clear higher highs and higher lows, check, it’s obvious – there’s no need to be digging to see it, check.
There’s a weekly stack, check.
The following candle after the imbalance closed below the wick it had created, check.
The zone is fresh, check.
Basically it has everything I look for.
CAD/JPY is another pair I have on watch, you can draw the trendline in whatever manner floats your boat, I believe the two examples I have drawn are both valid
The zone is fresh, there’s a weekly stack, I believe the trend lines are valid, the following candle closed below the wick
It’s a bit further out than CAD/CHF but we know it moves quite impulsively before reversing just check early June and late July – so I wouldn’t be surprised to see something like that.
Now I don’t trade USOIL or any oil index – I just prefer to focus on currencies – I think the probably of catching a bid/ask is a lot higher on currencies than commodities.
That being said, we know that the CAD is heavily dependant on its oil exports, so it’s always good to keep an eye on what’s happening on OIL before taking a trade on a CAD pair.
Some people argue that the correlation has been “broken” since 2018, but whatever, it wouldn’t stop me from taking a trade, I don’t check what oil is doing when I backtest CAD, but still 🙂
Looks good for our CAD shorts
Now, don’t tell me you forgot about my CHF/JPY!
It’s not because it’s last in my watchlist I’ve given hope on it, I still believe we could get a trade either today or next week 🙂
Here I’ve adjusted the zone to fit the weekly stack so that’s why it looks kinda ugly compared to before.
This zone is fresh, the following daily did close below its wick, it did lead to a break of a trend line (if you accept the trend line I have drawn in) etc.
Will be keeping my eyes out
I’m going slower, well maybe it’s just a big book, than I usually am across Malcom X autobiography, it’s quite interesting to see how it’s usually by trying to paint a negative picture of an organisation in the newspaper that we see an increase in their members.
Wonder if that’s still a thing these days,
Talking about foreign fighters in Syria, that is according to wikipedia :”)
By 2015, foreign jihadists outnumbered Syrian jihadists and other rebels in casualty rolls (16,212 anti-government foreign jihadists were killed in 2015 compared to 7,798 Syrian anti-government rebels killed that same year), a trend that carried over into 2016 (13,297 foreign jihadists and 8,170 Syrian rebels), and 2017 (7,494 foreign jihadists and 6,452 Syrian rebels).
The media talking about it non stop made them a public figure, made them famous, did it lead to an increase in the amount of people who went there to fight?
In 3 years that’s close to 37 thousand foreign fighters dead, if a quarter only joined them because of what they discovered in the news that’s still a lot…
I’m against watching the news if it’s important, you’ll learn about it soon enough, otherwise it’s just gossip and negativity