Random thought of the morning: I get out of bed way more easily on Thursdays because that’s the day where I go to the bakery and buy a “pain aux raisins” for breakfast. Wonder if there’s any healthy trick I could use for other days.
Really been struggling with getting up at 6:30 the last few days. Anyway…
Oh and my NZD/USD trade resulted in a loss. So far three out of the four trades I took this month were losers. Let’s hope we get some good trades to take us out from the red.
Enough said, let’s dive into the…
Daily Watchlist
GBP/CAD
Pound Cad will be in this watch until it either breaks a lot lower or reaches the supply area and gives an entry.
Yesterday’s high was within less than 7 pips from the zone, I’ll admit I’m quite sad it didn’t reach the zone, if it had I may be in the position.
Since it hasn’t reached the supply area, that zone remains valid, so I wouldn’t be surprised to see the price being attracted to it now that most structure traders are in this position.
If it breaks down lower, that’s fine, we can’t catch them all. There’s no point chasing a trade.
GBP/USD
Pound Dollar, just like yesterday remains on my watchlist for today. We saw a rather clear double top pattern on the 4hour chart within the previous area. However, that area had already been tested on the 10th – where it didn’t provide us a script entry, which is why it’s not a fresh zone.
To take a short on this pair I’d wait for 1.335 and higher to be reached and then patiently wait for a script entry.
NZD/USD
I’m actually surprised to have this one on my watch, at the time of the high I thought it had reached the daily area. I was wrong. It didn’t.
The supply level from 72.8 to 73 is therefore on my watchlist. The weekly stack is rather clear and obvious as well.
That’s why I keep most of my zone drawings on my charts, so I can quickly see the story of the price action across multiple years and make sure I didn’t do a mistake.
USD/JPY
Dollar Yen is the last pair on my watch for today. We are approaching the areaof demand it had created on the 6th of November – where the price then exploded to the upside and broke the descending trend line.
As mentioned yesterday, there’s no weekly stack, however the monthly stack is extremely obvious to me, so I’ll be willing to execute a long if a script entry is provided.
Daily book:
Still going through SuperStocks, around 60% in. I have to say, I’ve really enjoyed reading it, and can see great potential. I may start looking into stocks once my workload on my scalping is reduced.
Jesse just sent out an email to his email list – I haven’t gone through the doc yet but here’s the link:
https://docs.google.com/document/d/1ujbo8mVHv6bwClrWtc3FV0HCgm5J1WKjG6YlCUVZgEk/edit?usp=sharing
If you enjoyed it, go follow him on twitter and join his newsletter
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