Good morning folks! Was a busy day yesterday a lot of trades taken! Let’s jump straight into their review.
Trade Review:
CAD/CHF long
I took a 4hour scale in on top of my original position, thankfully this additional entry has a stop sizing more normal (close to 40 pips). I had an order placed once we spend 8hours away form the 4hour 50EMA. It got triggered and then started to reverse.
I shall be manually managing this position as per my plan (trailing below lows once a high is broken)
CAD/JPY short
An entry was also presented on Cad Yen for a potential short, I executed it. The zone of supply isn’t the nicest but it’s valid so we’ll see what happens.
GBP/JPY Short
I executed the short from the first zone I had mentioned in my watchlist, it’s currently rejecting an ascending phase line, I believe that if we break it (which I hope we do) we’ll be able to get a rather clean 1hour scale in as well.
Time will tell
Anyway enough looking back let’s have a look at my watchlist – live for the future not the past eh 🙂
FX Watchlist
EUR/CHF
Euro Swiss is the only pair I’ll be eyeing up for a potential short today. I believe that area is valid supply for a potential short.
That being sad, one of my rules is that the price can’t move sideways for 24hours within a zone before giving me an entry. So it may be eliminated if we don’t have an entry any time soon.
I’ll also be looking for additional scale ins.
Daily Book
Still reading the Laws of Human Nature I rather enjoyed a quote from it that sums it up quite well so far
The true spirit of conversation consists more in bringing out the cleverness of others than in showing a great deal of it yourself.
He who goes away pleased with himself and his own wit is also greatly pleased with you
