Tuesday 8th of December

Good morning folks! Hope you all had a wonderful day.

I don’t have anything to say, lack of creativity or not really awake for now, so let’s jump straight into my watchlist

FX Watchlist

AUD/JPY

Yep, I’m still eyeing up aussie yen for a potential short, I’ve been talking about it for a while now.

Sitting on your hands waiting for the perfect pitch is all we do as traders, we just have to be patient and control ourselves

AUD/NZD

Aussie Kiwi is currently between two areas of supply / demand. I’m not interested in the short, there’s no higher time frame stack. I am however interested in the long. For it to have a weekly stack it will have to reach the blue line, so we’re still far away

GBP/CHF

Noticed GBP/CHF after posting my daily watchlist, I’m quite liking it.

The area of demand was created after the break of a long term trendline linking the high of December 13th to the 1st of September. It’s not the cleanest I’ll be the first to admit, however there was a strong push higher from that level, so it may be something.

The structure does look rather good too.

For me to take a long trade I’d need to see a double bottom and then a script entry

EUR/CAD

Once again, we are still quite far away from the zone, more a question of the rest of the week

I have a few other things on watch but nothing too pretty for today, so will just have to wait.

I am however still waiting for a potential scale in for my short on NZD/JPY position

Daily Book:

Started reading Unknown Market Wizards, quite enjoying it so far, but to be absolutely honest, I think there’s more to learn about trading from endurance sport than from trading books.

Daily Tweet:

The trading dilemma

Everyone wants to make money in the markets, but it’s only when you stop chasing it that you’ll make it.

It’s a one way road, good trading leads to money.

— THE SHORT BEAR (@TheShortBear) July 22, 2020