Good morning team! I hope you’re well!
Before we dive into my watchlist, I just want to let you know I wrote a blog post this weekend that I think would be highly useful to traders. I named it “The 4 Principles that Drive Elite Trader Performance”
Anyway, since that is said, let’s move into our watchlist.
Oh, I probably should update you on EUR/USD – I’ve trailed my stop loss a bit closer to the current price, just patiently waiting for it to play out 🙂
Euro Yen is on my watch for a potential short – I’m guessing you know it’s on my watch if you’ve been following my watchlist over the last three or four weeks since it’s been there all that time :’)
Just being patient, there’s no point rushing in a position – if I had I’d probably have been taken out so I’m happy to stay on the sideline until something works out
While I am still holding a long trade, I have moved my stop a bit closer as per my trading plan because we broke structure to the upside, however we’re also approaching an area of supply. It’ll be interesting to see how things are lining up – I believe we’ll keep breaking this zone to the upside to see a rejection from the zone above, however I’m not clairvoyant.
I’ll adapt based on watch the price gives us.
While I’m not the biggest fan of trading “smaller” currency pairs, dollar Singapore does provide good returns in my backtest.
We are approaching a double bottom pattern, well actually a triple bottom with an extremely clear area of demand.
There’s a clear weekly stack as well – so let’s wait and see!
I hope you enjoyed this breakdown!
Have a fantastic week!
P.S. If you read the article I posted on Sunday what did you think? What was your key take away?