Tuesday 27th of October

Starting a three day fast today.

I’ve tried intermittent fasting, but I think it’s more of a pain in terms of the social aspect – so decided I’ll give a three day fast a try. I’ve already done a few, but it’s been a while.

At least I know I need to be careful when I start eating again – last time I ended up throwing up quite a lot.

Why am I talking about this? There’s not much movement in the market for now – I’m guessing the market is waiting to see who wins the US election before they choose a direction.

I’m betting (betting, not voting, I’m not even American so who cares) that Trump will win. But democrats will win congress.

Trade update:

AUD/CHF

I’m still in the position I mentioned on the 21st – it’s been going sideways for quite a while now, since the 22nd – it’s trying to break the 4h 50EMA but it’s struggling, we’ll see if it succeeds or not.

At least the swap isn’t too big to worry about so all is well.

https://www.tradingview.com/x/DX4KrO1U/

Daily Watchlist

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NZD/USD

I’m just going to copy paste what I said yesterday, absolutely nothing has changed sadly.

If you’re here for the action sorry!

So far I’ve been quite busy using my lower time frame strategy, we’ll see how it goes, going to forward test it for a while before using more capital on it.

Here’s my blurb about Kiwi Dollar from yesterday:

I like NZD/USD and especially this area since we;ve broken out of a clear wedge pattern, so I’d be looking for the price to reach the area of supply that lead to a break of the pattern.

However there’s an untapped zone (which has a cleaner higher time frame stack) just above the high we previous made.

I wouldn’t be surprised if we saw the price reach the previous high, form a reversal, get retail traders to position themselves short to then push higher to reach the higher zone – where their stop losses would be, to give liquidity to the institutions that are looking to add to their short positions.

That being said, if a set-up presents itself in the first area of supply, I will still take the trade if my script provides me an entry.

You have to apply the mechanical edge.

https://www.tradingview.com/x/8YtW9LYI/

Daily Book

I’m currently reading a science fiction book – Exhalation – it’s 11 short stories – it’s quite interesting to read science fiction it always makes me reflect.

In one of the stories, it talks about how the only aim of life is to lead to entropy where we’ll use all the energy available and die.

Quite a sad way to look at life, but it gives a meaning to it 🙂

Another story was about free will, which I thought was fascinating.

The one I’m currently reading (about virtual pets) is a little less entertaining and thoughtful, but it does bring up interesting ideas.

Daily Tweet

Think of spending your money like spending your time.

Let’s say your home pay is:

£1600 a month
£70 a day (e.g. 23 work days)
£9.30 an hour (7.5 hour work day)

It costs 107 hours of your life to buy the new iPhone 12 Pro starting at £999.

Perspective changer.

— Reece Wabara (@ReeceWabara) October 27, 2020

Work on building income, not only on lowering your expenses. Income is king.