Good morning folks! Hope all is well, you just have to keep going 🙂
While I’ll be the first to admit the hours of backtesting I’ve done so far this month is exponentially less than usual, I believe it’s time for me to put my head down and get back into the game.
I have to keep working today for tomorrow – as we all do. While my current strategy is fixed I would benefit from having several uncorrelated strategies.
Anyway, enough talk, let’s dive into my FX Watchlist.
Aussie Kiwi has spent the last 24hours just below the area of supply that I’m so interested in. It appears likely that we’ll see it reach it today.
That being said, I do not like slanted price action leading to a reversal, I know the strike rate isn’t that good. I’ll want to see something more before pulling the trigger (either a clear move higher then a reversal – or a double top).
Euro Swiss is moving towards an area of demand – in the past the 4hour 50EMA has been well respected so it’ll be interesting to see if a break happens. If it does I’ll then wait for the price to reach the area of demand before looking to take a short.
Dollar Yen has been moving sideways for the entire week, it remains on my watchlist, however I am unsure if we’ll see a move lower of a break of the larger descending trendline.
Dollar Swiss broke above a descending trendline two weeks ago, since then we’ve been waiting to see if the price would pull back to form a double bottom. If a double bottom is made, I’ll then look to take a long position.
Finished Reading Gucci Mane’s guide to greatness. It was quite good – good advice all around. Maybe too many photos of him, that would be the only drawback of this book.
But you have to respect him for what he does.
I also started reading the Autobiography of Andrew Carnegie and the Gospel of Wealth. Figured it’d be interesting to read what he has to say. Titans like him are definitely worth studying