Good morning folks! I hope you’re well!
I’m going to go out on a limb today and say we won’t execute a trade today, it’s quite surprising knowing how many pairs I have on watch, it’s just that not a single one is lining up as we wish.
We’ll just have to wait a bit longer and do other stuff in the meanwhile 🙂
Daily FX Watchlist
Aussie Swiss reached the area of interest yesterday however it wasn’t able to give us an entry opportunity, I am currently waiting to see if a double top formation shows itself, if it does and we get a script entry I’ll be executing it, however, I do not want to wait too long.
Let’s see if Euro Kiwi drops a little bit – we could potentially play a rejection to the upside, let’s see what happens.
Euro Yen is still on watch for like the third week :’)
4 Replies to “Friday 16th of April”
I am in the United States.
A thought, there is a COT report that consists of positions on currencies. What do you think about using the report to guage bank positions at supply and demand areas for currencies? It does not apply directly to spot forex but may provide an in site into volume of institutional buyers and sellers in spot forex.
I looked into it, I’ll admit, it was rather hard for me to understand how to use it for FX – I think it’ll be worth if you trade commodities tho – that’s how I saw it
If you come across something that would show how to play those COT reports (I believe they’re monthly correct?) I’d be interested for sure!
Thanks for taking the time to leave a comment
The Magic Trader FX U-Tube uses the COT to verify the banks position. Myself I look at the COT as a sentiment indicator.
Interesting, thanks Randy! I’ll definitely add it to my list of things I want to deep dive into! (I’ll admit that list is rather big but it will come!)