Morning all, hope you’re well and executing well!
Figured I’d update you with my GBP/NZD – it’s now a loss. I didn’t take a 4hour scale in since it was overnight.
So far this month I am at 4 losses on and one small win (my 4 hour scale in on NZD/JPY early in the month) for -3.8R.
I’ll admit, that’s not the best month ever – but I’ve been executing correctly so there’s no big trouble. As mentioned in my ASR – as long as I execute correctly I’m happy.
That being said, I did also take two extra trades yesterday: GBP/CAD and GBP/USD they’ve been on my watchlist for quite a while now, it was only a question of pulling the trigger once they gave the entry signal.
Even tho -3.8R may seem like a lot, those two trades alone (if they are winners) could put me back up at 2.2R for the month. That’s why I like having 3:1 risk reward (and that’s without including any potential winning scale in).
Here’s the chart of GBP/CAD
The chart for GBP/USD
Time for our usual segment, the daily watch 🙂
Kiwi Yen has now reached the area of supply. One slight problem, is that I doubt it will give us a script entry. It may prove me wrong tho, time will tell.
If a script entry is provided I’ll execute on this trade no question asked.
Dollar Yen followed suit with the DXY and bounced back higher, away from the area of demand. That being said, I’ll keep an eye on it. Tho, to be entirely honest I’d be fine with the USD gained strength, that would fit with my GBP/USD position 🙂
Scale in opportunity
I never really mention the scale in opportunity on this blog, but I’ll be looking for a potential scale in on both GC and GU today. Well, that is if a set-up presents itself.
Slowly going through the book about Cotton and how it shaped our modern capitalism and industry. It’s quite a slow read I’ll admit, I may dip into another book at the same time.
Ohhh, just realized a book I pre-ordered comes out today, so I’ll probably have that on my kindle too. Forgot the name tho
It’s so real I’m sorry I had to share 🙂