Gooooooood Morning folks!!!
Don’t ask me why, but that movie was in my head this morning.
Hope you all had a fantastic weekend!
Took GBP/CAD 4hour scale in this morning before starting to write this blog post.
I’m starting to be quite heavily positioned on this short. The initial position stop is still at 1% risk, the 1hour scale in stop is at break-even. This latest entry is also carrying 1% risk.
Well I say 1% risk, I don’t risk 1% of my capital per trade, so see that as 1R.
By the way, if I were to do a 5ers challenge, for my other trading style, would you guys be interested in seeing the results>?
FX Watch List
Let’s dive straight into my watchlist then I guess
I’m still considering taking a GBP/USD short 4 hour set-up. Just need to see a clear break below the 50EMA and then a retest.
It’s just waiting for now.
Won’t have a problem taking a fifth position on the GBP if the set-up happens. In my backtest I won’t stop myself from taking a position because of correlation.
Aussie Yen remains on my watch list for this week, unsure what’s going to happen. I’ll be interested in a short from the supply area if the price reaches that area.
Dollar Yen is another one on my watch, there’s a potential long set-up taking shape, well, the price still needs to go a little lower, however I remain quite keen on it.
That’s it for my watch for today!
A few other pairs are within their areas of supply / demand however they’ve spent too much time within their zones for me to be interested in them.
I’ll admit, juggling two heavy books at the same time isn’t that easy, I may need to find myself a third lighter book to motivate myself to read more since I’m quite stuck at the moment.