Wednesday 10th of February

Good morning folks! Hope you’re all well! Ready to have an amazing day!

Let’s start with updating you on CAD/CHF

Trade Update:

CAD/CHF I am still running the original position, however my 4hour scale in got tagged out for 1% profit on the correction. I’m happy with the 1% I followed my trading plan so there’s no problem there for me.

AUD/NZD I am still holding my Aussie Kiwi long position:

New Positions:

EUR/NZD I took two trades in Euro Kiwi yesterday.

My first entry was a clear script entry after a clear double bottom pattern as mentioned on my watch, quickly followed by a 1hour scale in.

Here’s a cleaner picture of the scale in:

Anyway, enough talking, let’s have a look at my watchlist for today!

FX Watchlist

AUD/CHF

Aussie Swiss will be on my main watchlist for the rest of the week. We haven’t seen anything that would have me over excited for a trade today, so I’ll just wait and see what we get 🙂

There is a weekly stack, however, we are forced to combine 2 weekly imbalances in order to be able to trade it. That is something I have decided to add to my trading plan so it’s still good.

GBP/USD

Pound Dollar is the second pair I’ll be eyeing up for a potential short play for the rest of the week, I like how it’s pushing towards a zone we haven’t reached since mid April 2018, we are approaching some rather old levels 🙂

There’s no weekly stack, that being said the monthly is giving us a tweezer top there with a gorgeous stack so I’ll be happy to trade it to the downside.

USD/CAD

Dollar Canadian is a rather interesting one, we are currently rejecting the larger descending trendline, it’s a rather picure perfect rejection too, however we did create a wedge pattern that lead to a bullish move, the imbalance that was created was the low.

If USDCAD keep droppings and reaches that imbalance, we’d actually see a rather clean double bottom /arc formation for a potential long buy to break this descending trend line.

We’ll have to wait for a script to occur to take this long but it could be an interesting play!

That’s it for my watchlist for today folks!