Wednesday 14th of April

Good morning folks! I hope you’re well!

Let’s dive straight into my trade update

Trade Update

I closed the original position on EUR/USD I had taken on the 31st of March for 3R as well as the 1 hour scale in I took on EUR/USD on the 2nd of April for 5.2R

I am still holding the 4hour scale in with my stop loss in profit, I shall be more patient with this one.

I’ll admit the temptation to manually close the trade when it started to form a wedge was strong, but I do not have any data proving it’s worth to do so, hence I kept the position open and followed my trading plan.

Happy I executed this trade and followed my trading plan.

Proof that it works even if I take loses along the way (such as GBP/USD)

I am also still holding my AUD/NZD short position x2 – the two entries are at breakeven so it has no risk on the table.

FX Watchlist

Same as the previous few days

CAD/JPY

Canadian Yen is on my watch for a potential short once it comes back up to retest the highs

EUR/JPY

Euro Yen is also on my watch list for a potential short play once we test the zone that’s slightly above our current double top formation – I’m guessing a lot of stops will be in that area so it’ll be interesting 🙂

NZD/CHF

Kiwi Swiss moved to the upside yesterday after giving a script entry just a few pips above the zone, I was rather sad to see it happen, was a perfect 4hour price action, sadly it hadn’t quite reached my zone so I didn’t execute my trade.

I nearly added a few other pairs to only realise they don’t have any higher time frame stack, so I’m afraid we’ll keep our focus on these 3 for now.

A small tweet from one of my favorite traders on twitter before I go

Patterns don't owe you anything, they are simply probabilities.

We tend to focus on them failing in 'tough' markets, yet never realize their full potential profits during markets conducive to those setups.

I try my best not to take it personally and reap the max when possible.

— Brian Lee (@BrianLeeTrades) April 13, 2021

Have a fantastic day folks, I hope you banked on EUR/USD as well if you trade a similar style as I do