Thursday 29th of April

Good morning folks! I hope you’re well!

Trade Update

I had a slight issue yesterday – my two positions were closed and I do not know why, they didn’t reach my stop loss or my profit targets, it seems like my broker had an issue…

Which sucks knowing I’m talking about my 5ers account, (a trading prop firm)

This led me to securing 2.5R on my original AUD/NZD position (close enough to my target which was at 3R)

My EUR/USD position was closed for 4.72R , my TP was still far away, my stop loss was at 3.7R

Neither of these positions should’ve been closed, however I’m grateful it occurred when my positions were running large profits rather than when they were in drawdown.

Now that I’m no longer in any positions, (well I am still holding my AUD/NZD short on my personal account) let’s dive into my watchlist

FX Watchlist

AUD/CAD

I’m interested in a potential long on AUD/CAD it’d be quite interesting to see how it plays out it’s not the prettiest zone but… Can’t complain too much about it 🙂

We can draw the zone in this manner if we are willing to use two weekly candles as a stack, rather than just one, which I am willing to do.

CAD/JPY

Canadian Yen is also approaching an area of interest, well, it’s already in one but it could break the high it previously made to grab some more liquidity and give us a clear script entry in the zone that’s above it.

Quite keen to execute on this short play 🙂

EUR/JPY

Euro Yen is also on my watchlist, we’re currently breaking above the zone, which I am fine with as long as it’s less than 24hour and that the price doesn’t go too far out (I allow it to go about 50% of the size of the zone)

Let’s be patient and only execute if it’s a valid set-up.

EUR/USD

Euro Dollar is also on my watch, hence why I’m not too annoyed I was taken out of my position yesterday – I’m now waiting for the price to clearly enter and the zone and give us a clear script entry.

The price has been rather corrective this entire leg up so it’ll be interesting to see if we have strong momentum.

NZD/JPY

Kiwi Yen is also on my watch for a potential short play, we are within the zone of interest so let’s wait and see what happens.

A lot of retail traders will be looking to take the short I believe since it’s making a clear triple top – let’s be patient and only execute valid set-ups.

That being said, you’ve probably noticed I have a lot of yen pairs on my watch 🙂

Have a good one folks 🙂

Wishing you the best!