Good morning folks! Happy new year, best wishes etc.
Now that the pleasantries have been done, let’s dive straight into our watchlist?
FX Watchlist
AUD/USD
On Aussie Dollar we are approaching an area of potential supply that was created as a counter-zone back in April 2018. While it may be a rather old zone, nearly three years old, it remains valid since we didn’t test it yet, it remains fresh.
That being said, there’s no weekly stack, we are forced to on on the monthly chart to find a stack. On the positive side of things, the quarterly chart does looks like there is potential to the downside, even tho we are currently seeing a rather strong trend.
While I am not mentioning AUD/JPY, it is on my watchlist for this week, I doubt it will give us an opportunity to position ourselves today.
CAD/JPY
Cad Yen is once again back on my watchlist for a potential short. As previously mentioned we can notice that the price remains trapped below 82 and is forming a rather clear wedge pattern.
GBP/CHF
Pound Swiss is the third pair I have on watch for today we are approaching an area of supply with a rather gorgeous weekly stack, that being said, it will probably only give us a script entry tomorrow, we are still over 60 pips away.
There are other pairs on watch that still need to develop themselves before being included in this watchlist, however this week looks rather promising.
Daily Book
Finished reading Dune a while back, was quite good, different from the type of books I usually read, I’m currently using Scribd to real “Think like a Billionaire” quite a ballsy title I’ll give it to you. What’s interesting is that it’s mainly a collection of interviews with successful people.
I tend to listen to podcast with them but I rarely read transcripts of their conversations, I think it’s a great way to use another part of your brain to memorize the journey they all took to get to their point.
One interesting point that’s coming out for me that I never really picked up on is the importance of being likeable and funny, you need to have a sense of humour to get your foot in the door and connect with the people. Sara Blakely for instance did a lot of stand up comedy in order to improve that skill. It could be worth looking into.
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