Thursday 12th of November

Enjoying this week I hope? We’ve finally had a few entries! Yesssss 🙂

The hardest part of trading is sitting on our hands, which we did, until a clear opportunity was available in front of us.

If you were able to wait for a clear set-up to present itself – congrats! It’s hard when there’s so many clear higher timeframes.

Trade wise here’s what I did:

I am short in NZD/USD

I am long in GBP/NZD

I won’t share screenshots right now, but I believe it’s rather obvious? 🙂

I’ll share the trades on a day where there’s nearly nothing on watch 🙂

Here’s Friday watchlist:

Daily Watchlist

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GBP/CAD

Pounds Cad remains on my watchlist for a potential short. We have a rather clear area of supply above 1.74 with a clean weekly level.

Also I’m sorry I saw that yesterday screenshots were low quality, I’m not really sure why so I hope this is better. If it’s not, well, I leave the link anyway.

https://www.tradingview.com/x/oUegKf9o/

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GBP/CHF

Pound / Swiss Franc is another pair I’ll be eyeing up, however, we did reach the area of supply yesterday and we are seeing some bearish price action.

For me to remain interested in this set-up we’d need to see some clear move higher to form a double top.

https://www.tradingview.com/x/25aNSMap/

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GBP/USD

Pound / Dollar is another pair I’ll be eyeing up, however, we did reach the area of supply yesterday and we are seeing some bearish price action.

For me to remain interested in this set-up we’d need to see some clear move higher to form a double top.

But as mentioned yesterday, there’s another area of supply higher, so I’d be interested in that one too.

https://www.tradingview.com/x/SsaB2Ovb/

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US OIL

Oil was an interestin set-up from yesterday, it didn’t make a script entry (I can’t trade it with my broker anyway) but figured I should mention it.

We’ve reached an area of supply.

If we were to have a double top I’d be interested

https://www.tradingview.com/x/5dmhMrCv/

That’s it for today! The watchlist is back at a normal size 🙂

Daily Book

I’m re-reading Onwards by Howard Schultz while waiting for my new books to be delivered, it’s an interesting view into the difficulty of relaunching an organisation, coming back to the role of CEO after having left it and it shares a few important business tips.

I’m fascinated by coffee, so the fact that it’s about Starbucks makes it even better 🙂

Here’s the amazon link if you’re interested – hope you folks don’t mind me using affiliate links! Doesn’t change the price or anything

Daily Tweet

To be truly successful you have to embrace pain & loss.

Between the two you will come to find wisdom & some of the most powerful intrinsic motivation available to man.

Become antifragile.

If you constantly look for the lessons therewithin, you'll experience perpetual growth.

— Brian Lee (@BrianLeeTrades) November 12, 2020

Brian is a really nice guy, there’s a few podcast with him from Chat with Traders to Market Maker Confessions would recommend listening to them.

He’s got some cool insights about dealing with a low strike rate strategy