Hope you all had a fantastic weekend and reviewed your week. For those who don’t do a self review or ASR (advanced self review) every week / every month I wrote an article talking about what I do.
I share what I do, what I think of and what matters to me, you can find the link here: https://bullishoncoffee.com/2020/11/15/self-review/
Anyway, you’re probably only here to know what I’ve got on watch.
The answer is quite easy, not much. Most of the zones have been triggered and are seeing a pullback towards them. However the zones are no longer fresh.
Pound Canadian dollar didn’t reach its supply area last week, that’s something I’m keeping my eyes on. The area above 1.742 up to 1.75 is one I’d be interested in taking a short position.
The weekly stack is extremely obvious, there’s a clean trend line break and market structure is showing us a potential move lower once it reaches its upper band.
All in all, I like it!
Pound Dollar is another pair I’ll be eyeing up. Yes you may be thinking “Max we touched the zone last week, you said it was no longer fresh why do you have GU on watch?”
The reason is simple, we did reach a supply area last week, however we didn’t reach the trend line break area of supply. The zone we reached was the counter-zone supply area.
So I’ll be looking for a short 🙂
Now I’m also going to be eyeing up JPY pairs, but I’ll keep them for tomorrow daily watch, I doubt we see enough movement for them to offer entries today!
I received two need books on Friday – Empire of Cotton and Paris 1919. However I hadn’t finished Onwards (the story of Starbucks post 07). And I’ve discovered a book from a guy on Twitter I quite enjoy (SuperStocks) his twitterhandle is @insiderbuyss
Also having discovered Scribd makes the library of books available even bigger.
I’M LOST. Too many books I want to read!
Anyway, Empire of Cotton is rather interesting, it goes into a lot of detail.
It’s rather interesting how slaves were paid for in cotton tissue (made in India at the beginning then in England) those slaves then went to the “west indies” to work in sugar planations but also Cotton plantations when the demand grew so high.
The work from the slaves were basically directly buying more slaves.
Also shows the importance of supply and demand, quality, productivity, international supply links.
Yep, fascinating. Maybe too much in depth but it’s also what some people really like so that’s fair!
Wrote a quick thread about my self review and how I discovered the impact market regime has on my scalping: