Friday 30th of April

Good morning folks, I hope you’re well!

I took quite a few trades since my last message, all of those were on pairs that were on my watchlist yesterday so glad to see them take place.

Let’s wait and see what happens, I am happy with everything that takes place.

Trade Update

As mentioned, I’ve taken 3 more trades since I last wrote up my daily watchlist – NZD/JPY – CAD/JPY and EUR/JPY.

For those that are straight up thinking, but what about correlation risk Max? Don’t you mind taking three trades on the same currency pair across several pairs?

The truth is yes, I do, I am aware that it has a potential to make me vulnerable to events – that being said, I also know that when a set-up is lining up across several pairs it’s usually quite a good indication of a potential reversal.

To take 2 trades rather than the 3 was in my mind I’ll admit, but I decided to be a robot and execute all three since that’s how I backtest.

NZD/JPY

Kiwi Yen was the first trade I took, yesterday, we broke back inside the area of supply, broke above the wedge pattern and then gave us a rather strong bearish candle which I executed upon.

Since I am trading zones I don’t try to pick the absolute peak the price will reach, I’ll leave that part to guru that use 3pip stop losses, rather I’m happy to take a large position there and just patiently wait. I have no problem with the fact that the price hasn’t moved in my favour yet

CAD/JPY

Canadian Yen was the second pair I executed this morning just after waking up – even before making myself a cup of coffee! Can you imagine that?

Good thing I had my watchlist done because otherwise I wouldn’t have been able to be so quick 🙂

In this set-up we clearly broke above the previous high to reach an old zone, which has a gorgeous weekly stack, I executed without any hesitation.

EUR/JPY

Euro Yen was also executed this morning straight after my CAD/JPY trade – it’s been on my watch for so long I believe you understand why I was interested in the zone, we broke above it, but once the candle closed it was within the 50% room for margin I give price, so I was able to execute.

Now my main question is can I delete my Wyckoff notes on this pair or not :’) I have left them on for quite a while now!

Oofff that was exhausting sharing all the trades I took:)

Hope you enjoy the transparency 🙂

FX Watchlist

Now onto the future, what am I looking to trade today if we are provided with a clear signal from the market?

EUR/USD

Euro Dollar is on my watch for a potential short play, let’s see how the price reacts to the zone, it’s just a question of patience at the moment!

That’s the only pair that could potentially give me an entry today I believe, the others are still quite far away so just sharing one since I’ve just shared all my trades 🙂

By the way, out of interest, what is of most value to you, me sharing my trades or my watchlist?

I’d love for you to fill in this straw poll so I could know what I should focus on

http://www.strawpoll.me/45209334

Cheers!