Good morning folks, I hope all is well!! Sorry I didn’t update you folks yesterday, had a 7hour drive ahead of me so figured I’d focus on myself instead of providing you with my watchlist.
I didn’t have anything until the markets moved anyway 🙂
Took AUD/NZD for a short position at the daily close last night.
We reached a clear area (a trend line break level) that is nicely stacked with a weekly.
Clear area (That I had initially missed, I only had the higher level) with an extremely clear evening star so all in all, I was happy to execute once the spread calmed down.
Swiss Yen is a rather complicated area of interest however, I’m interested.
What we are able to witness here is a third counter zone, so yes, it’s not the cleanest area of reversal, however it remains valid in my eyes. There’s also a potential weekly stack so all is well on that side of things, on the 4hour we can observe a slight deceleration – let’s see what happens!
Euro Kiwi is a potential on my watchlist, its a clear counter zone, if we use two weekly candles we can say it has a valid weekly stack and on the 4hour well, it’s interesting to look at.
We did break a strong descending trend line so it’ll be interesting to see if this is a big reversal or just a larger correction before we see another leg lower.
Pound Dollar is on my watch for a potential long opportunity, we have a clear counter zone at this level, however we did just witness a break of the ascending trend line – so was this a bear trap? Get a lot of people to enter sell positions before another leg higher?
Time will tell, one thing is for sure, I’ll keep my eyes on it!
Dollar Swiss is also on my watchlist, it’s rather funny, I was talking about the CHF quite a lot over this weekend since I was with people who live in France but work in Geneva (and get paid in CHF).
This pair is of value to me since we are approaching an area of supply, a clear counter zone, last time we approached it we saw a clear reversal but it didn’t quite reach it so I didn’t take it, will it reach it this time? If it does it’ll give us quite a pretty double top.
Was listening to “The art of resilience” by Ross Edgeley on my 7hour drive, he said the following quote, and it really strung a chord with me so here it is: