Wednesday 6th of January

Good morning folks! Hope you’re well.

Looks like the market has decided to move a few currency pairs closer to their areas of interest so let’s dive straight into my watchlist.

FX Watchlist

AUD/JPY

Aussie Yen is approaching an area of supply that dates back to April 2019 quite quickly, that zone is extremely clear to me, it broke a trend-line and the weekly stack is there.

All in all, I am just waiting for the zone to be reached and then looking to execute a short position if it fits my trading plan.

CAD/JPY

Cad Yen is another pair approaching our area of supply to take a potential short, this zone was also created by a break of a trendline, however it is a lot more recent. Once again, the weekly stack is gorgeous, it’s only a question about patience for now.

Let’s wait on the sidelines until it fits our trading plan.

EUR/USD

As mentioned more or less every day Euro Dollar remains on my watchlist, we are now the closest we have been to the area of supply. The daily is gorgeous, the weekly is gorgeous, the monthly is gorgeous and the quarterly even tho we do not have an imbalance we have an engulfing candle.

All in all, just being patient on this one, if it breaks higher, then we’ll have the opportunity to take a long once it comes back.

GBP/NZD

Pound Kiwi is still on my maybe watchlist, while I believe this area of demand to be valid, if we were to adjust it to the weekly, which is what I do before taking an entry the area where a trade is possible is still a lot lower, within the green box.

We’ll see if the price gets to it, if it does, I’ll look for a long.

NZD/JPY

Kiwi Yen is yet another pair that I am looking for a potential short, we have now reached the area of supply that was created back in April 2019, as a counter zone, so quite far away.

There is a monthly stack, the weekly stack isn’t really gorgeous so I won’t be mentioning it, however if an entry were to present itself it would be valid.

That’s it for my watchlist today!

Still reading the same book, it’s quite slow to read interviews since the conversation flows a hell of a lot less than an actual book. May pick up a new book today, we’ll see I guess 🙂

Daily Tweet

Nice little thread based off a book I enjoy – the Alamanack of Naval Ravikant, check it out

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