Just realized how quickly this year as passed. well at least the last few months. I started sharing my daily watch in August, and have been doing it daily ever since.
I’ve only missed my 9am deadline a few times, yesterday’s post was uploaded, I just forgot to link to it from the daily watchlist page of the blog…
Let’ see if I can get this one up before 9am too!
As mentioned yesterday Pound Canadian Dollar is something I have on watch for this week. We’re at the higher limit of the market structure, so we can assume a lot of retail traders are going to be positioned short.
That’s great, institutions will probably push the price higher to their supply zone – tag out all the retail traders, and then drop.
I’m not one to say that all institutions are Machiavellian, but… I mean, annoucing a successful vaccine trial result the day where the CEO had announced a few month prior he would sell most of his shares is… Yep. That’s some manipulation.
Anyway here’s the chart:
Pound Dollar is yet another pair I still have on my watch list, We’re approaching the trend line break supply area. Which I find rather pretty. I have to say the weekly is also gorgeous so I’ll definitely be keeping an eye out for this one.
I’m liking the fact that both GC and GU are both looking bullish for a while and then expecting a drop. I don’t care much about pair correlations, but when we have a winning trade it usually pours. Euh “When it rain it pours” that’s what I meant 🙂
Let’s also mention dollar yen. While I didn’t take the short set-up, it would require me to use several weekly imbalance candles to have a stack, something I wasn’t comfortable doing in the past. I will be looking for a long.
The higher timeframe stack goes to the monthly, there’s no weekly stack – so it’s all the way back into 2016. That being said, with Citi and Goldman calling for a weak dollar – I wouldn’t be surprised if we saw a long trade soon.
Anyway, those three pairs are on my main watchlist for today. If you have any questions are to why feel free to reach out!
Gave my focus to SuperStock yesterday by Jesse Stinger, great book so far, it’s about identifying stocks with a potential to becoming multi bangers. The reasoning behind it makes a lot of sense.
However, he’s the first to admit, that it will require a lot of work to find them, you probably find 8 to 10 super stocks per year, others that don’t fit all his criteria are more common tho. He’s got 12 key criterias, but so far he’s added an extra 12 or 24 I’ve lost count 😀
Haven’t finished this book yet. That being said, it’s probably one of the best book for investors. He’s an actual trader that shares verified returns, is still active in the market and aims to make returns superior to 100% per year through his stock investing.
Sure, his method of investing isn’t to buy an ETF and sit quietly – it’s about doing a lot of work finding a few great stocks with clear catalysts and then sitting on his hands till they reach his profit target.
I’m betting that the FED will keep propping the market up so that there won’t be a crash right now.
However, buying hedges does seem rather interesting.
Especially when the Economist prints an cover saying there’s hope.