Tuesday 27th of April

Good morning folks! I hope you’re well and that the FX market is treating you properly 🙂 Well, I hope you’re treating it properly – it doesn’t owe you shit.

I’ve noticed we had quite a good reception on the latest article I wrote – the 4 principles that drive elite trader performance – so I’m rather happy about that!

Thank you for sharing your kind words with me! It’s really nice to take a few seconds of your time to drop a message 🙂

Anyway, what’s on my watch?

I’m sure you can guess at least one pair, it’s been there for like 4 weeks now 😀

FX Watchlist

EUR/JPY

Yep, you guessed right, I’m watching Euro Yen for a potential short, I’ve been eyeing it up since mid march so I guess it’s nothing new but… Maybe one day I’ll be able to take it short

The thing is, I’m fine if we take more time to develop it, we’re currently manipulating the highs, which in turn is giving us a clear wyckoff pattern – that being said, I don’t trade a wyckoff pattern, I want to wait to have the confirmation – have a sign of weakness before doing anything with it.

There’s no point trying to call a top, just follow your plan.

EUR/NZD

Euro Kiwi is also on my watch, it’s been moving sideways for nearly two weeks now I’d say, I’m waiting for it to break the lows, here since I talked about the Wyckoff method for EJ I might as well mention that we’re not really manipulating the lows they’ve been rather equal what we’re seeing is more of a manipulation of the highs – it’s a re-accumulation of the shorts.

That manipulation of the highs is quite a good indication that price may break the lows it had made, but the question is how far will it go once it breaks lower? Will it reverse once it reaches the area I’m interested in and give us a valid entry? I hope so, but time will tell 🙂

NZD/CHF

Since we talked about Euro Kiwi we might as well talk about Kiwi Swiss (Cheese!)

In this case, we’re approaching the area of demand, I’m not really sure what the price is currently doing on the 4hour, to me it looks like a correction if I’m being honest with a double / triple bottom and the same for highs.

(Yes I am aware that the daily could be indicating a bullish re-accumulation if I were to talk about the Wyckoff method – yet as I mentioned, I only really look at those patterns only once they’ve been confirmed)

Let’s wait and see what happens!

NZD/JPY

Kiwi Yen is also on my watch for a potential short, I like the area, I’m not too sure if we can say it had been reached previously – so as long as we enter the zone and go a bit higher I’ll be willing to execute the short from there.

There’s a rather clear wedge pattern paying out on the daily, that occurred once the price broke the ascending trendline – all in all, it could be exciting 🙂

USD/SGD

Dollar Singapore is also worthy of a mention, we are approaching the triple bottom area that is of interest to me, the price has been moving lower for quite a while now, the DXY and EUR/USD are both approaching areas of potential reversal so let’s wait and see 🙂

That’s it for today 🙂 Well, I also have alerts on different pairs (for example EUR/USD) but I don’t believe we’ll get something today so I’ve kept my mouth shut 🙂

Have a fantastic one team!