Thursday 14th of January 2021

Good morning folks! Hope all is well!

Before we dive into our daily watchlist, I figured I probably should update you with my GBPCHF trade that I took yesterday from our watch.

A short entry presented itself within the area of supply so I executed it. I’m happy with it, it fits my trading plan and is classified as a V entry. Let’s see how it plays out.

I shall be looking to take a 1hour scale in and 4hour scale over the next few days.

FX Watchlist

GBP/JPY

Pound Yen is a currency pair I’ll keep my eyes on for the next week or two – we are now in the middle between two areas of interest, one for a long position (a counter zone that was created with yesterday’s push higher) and a short position that was created back in Feb. 2020.

The price has a 300 pip range before reaching one of the areas I am interested in, that type of volatility can easily be done in a day or two, it’ll be worth keeping our eyes out.

AUD/NZD

Aussie Kiwi is also approaching a clear area of interest – slowly but surely, we only have to wait. The area of supply was created by a counter zone back in October, so let’s see what happens once we reach it.

I have included AN to my watchlist only because I haven’t mentioned it recently, I doubt an entry will present itself today or tomorrow.

USD/CHF

Dollar Swiss is a pair I’ll be looking for a potential long once the recent low is retested, while it’s not the prettiest trend line break, and therefore not the cleanest area of demand, I believe this one does exist.

I shall be looking to take a position once we have a clear double bottom and an entry signal.

Daily Tweet

Something worth considering:

"If you're not getting the results you want, change what you're doing."
"But isn't that what people do?"
"Not at all, they do more of the same. They spend more time. They try harder. They double-down on whatever it is they are already doing."

Adam Robinson

— jack schwager (@jackschwager) January 13, 2021