Tuesday 10th of November

Well the news that the vaccine had a 90% success rate, well for people that only contracted a slight version of COVID surely did move the markets.
I was in a scalp at the time, thankfully I didn’t get too much slippage…

However, it did also do a lot of things on our main bread and butter strategy, it moved the market closer to their areas of supply and demand.

Go and get your coffee, and let’s go.

Actually, I probably should make my coffee before writing this blog instead of afterwards… Anyway…

Daily Watchlist


CAD/CHF

CAD to the Swiss Franc is a pair I’ll be eyeing up today. Knowing the market is now going to be risk on, it doesn’t make too much sense looking for potential shorts.

However, I don’t trade macro or news or anything, I trade my technical analysis.

That analysis is telling me that CAD/CHF is still within an area of supply. Well, kinda, it broke it, but it didn’t go too far. The area is still valid by my standards, if this daily candle closes above it I’ll delete it.

In this case, I’ll be looking for a double top pattern followed by a script entry

https://www.tradingview.com/x/kNUtd40v/

CADCHF short setup

CAD/JPY

CAD/JPY is another pair I’ll be keeping my eyes on, yesterday we reached the area of supply dating back to early September, and we saw an extremely clean railroad pattern.

For those who do not have a script to indicate their entries, that would’ve been a good entry in my book. The railroad pattern is rather clear. There’s also a great weekly stack, all in all that was a good entry.

That being said, it wasn’t a script entry for me, so I stayed out as per my plan.

I’ll be looking for a double top to enter in this position.

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

CADJPY short

EUR/GBP

Euro Pound has been on my watch for quite a while now. It hasn’t really been impacted by the news of the vaccine, neither of them are a high risk or safe haven and both currencies will benefit as much of the vaccine.

That being said, we are still cetting close to the area of demand dating back to early september.

The weekly stack is also there, which makes it a trade I look forward to taking. I believe it has a great potential.

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

EUR/GBP long

EUR/NZD

Euro kiwi is slowly, well, quite quickly based on yesterdays candle reaching the low it made in July, that low, is in my analysis, an area of demand, hence once we reach it I wouldn’t be surprise to see a bounce higher.

There’s also a clear weekly stack which makes me happy with this position.

https://www.tradingview.com/x/2swZShKO/

EURNZD long

GBP/NZD

Pound Kiwi is yet another pair I’ll be eyeing up for a potential long.

The area of demand nearly got triggered yesterday by the wick it made. However, it didn’t and the area remains fresh, so I’ll wait for a clear entry once it is inside the area of demand;.

If you’re wondering why my zone is drawn like this it’s because I’ve adjusted it to the weekly stack.

https://www.tradingview.com/x/ULRM67Uc/

GBPNZD long setup

GBP/USD

Pound Dollars is also on my watch, even tho we’ve had three days of price action we remain close to area of supply, I’m keeping it on watch.

Both the DXY and EU reached the areas I outlined in yesterdays daily watch and exploded from there, so we’ll see what happens here.

We have two areas of interest, a counter-zone and a trend-line break zone. I’d prefer trading from the trend-line break. That being said, if my script shows an entry within the counter-zone I’ll be more than willing to take the short.

Both zones are covered by the same weekly stack.

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

GU short set-up

USD/JPY

Dollar/Yen is yet another pair I’ll be eying up for a retest of the high made yesterday. Following the news a lot of money went from Japan, a safe haven back to the Dollar, which lead to this strong move upwards.

It reached an area of supply and then dropped, I’ll be interested in taking a short only if it forms a clear double top within the area and gives me a script entry.

That being said, I’ve just noticed I don’t really like the HTF stack.

Umph, will have to think about it once I have coffee in my system.

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

USD/JPY

Anyway, that’s most of my watch for today! I need coffee to spend more time talking about my watchlist. That’s for sure.

Oh and yesterday both USD/SGD and Gold gave entries for longs. However, neither are offered on my broker…

Daily Book

I’m still going through Margin of Safety by Seth Klarman, I’m around 80% done. I’ll admit I didn’t read much yesterday I was going over my notes of previous books and killing myself doing burpees…

My body still aches.

However I’ll have finished it by tomorrow, I don’t know what book I’ll pick up next.

Daily Tweet

Don’t forget the 80/20 rule 🙂

20% of the work you do will bring 80% of the results. Focus on those that will have the most impact on you.

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