Wednesday 7th of April

Good morning folks! I hope you’re well and enjoying a cup of coffee!

It’s always a struggle for me, to finish my cup of coffee or start writing up this blog post. That is the question eh

Anyway, did I update you folks on the 4hour scale ins I took?

Trade Update:

I took EUR/USD long as a 4hour scale in yesterday I’ve had the opportunity to reduce my risk on it now so I’m happy about it

I also took a scale in on AUD/NZD, another 4hour scale in, I’m just waiting to see what happens next. Ideally we’d see it drop 🙂 It’s currently resting on the 1h 50EMA which has been rather well respected in the past, so only time will tell.

(It will drop, time just hasn’t caught up with that fact yet)

Anyway, enough talking about my positions, let’s have a look at my watchlist

FX Watchlist

EUR/JPY

Euro Yen is on my watch for a potential short – however I’d like to see the price reach a zone that’s slightly above the previous high, we’ll see how that happens. To break the previous high we’ll need quite a strong push higher, however a lot of stops are probably around that level so we’ll have some liquidity being created for a potential short from there (or a bigger push)

GBP/USD

Pound Dollar is also on my watch for a potential long play – we broke out of a descending phase line and are now headed back into the zone it had created.

This level is aligned with a previous area of supply and demand however I’m happy with it. There is a weekly stack, however it starts from around the middle of that level (hence why my zone looks strange, I have adjusted it)

I hope you guys enjoyed this breakdown!

Oh and, I have a question for you:

Would you enjoy it if I made a weekly video about my watch, what I’m looking at ahead, what I’m currently testing? I was thinking of doing it with another trader to be able to showcase different styles of trading.

It’s not your strategy that’s holding you back if it’s profitable in your backtest, the problem is likely coming from you sadly

You can reach me by email or through IG!