Friday 4th of June

Good morning folks! I hope you’re well!

Sadly I have to update you, I have taken a loss on my 4hour scale in for NZD/CHF

Trade Update:

NZD/CHF

As mentioned just above my 4hour scale in didn’t reach an area where I’d have been comfortable moving my stop to an area in profit and I took a full loss.

Not an issue, it’s part of the game! Only 58.62% of those 4hour scale ins close as profitable trades, yet the average return for them is of 1.43%

Trust your stats, don’t get emotional when taking a loss.

That being said, let’s hope to see this one move back into profit 🙂 I’m still in the original trade.

Oh and I’ve got an order entry on USD/SGD for a 4hour scale in, we haven’t reached it yet tho.

FX Watchlist

Trying to clean up my watch since it was starting to get messy, a lot of sideways price action or at least invalid P.A. for me so I have to plug out of the matrix to see clearer.

Found two pairs that look interesting for next week, so let’s talk about them?

EUR/USD

Euro Dollar recently broke an ascending trendline, really liking the set-up, if we close as it currently stands we’ll have a gorgeous fresh weekly stack for the short, we don’t have a stack for area of demand tho, only for the area of supply so that will be my focus,

USD/CHF

Dollar Swiss has now moved away form the area of supply without even touching it, so I’m keeping my eyes on it for both a potential long from the area we’ve been looking at for this entire week but I’ll also keep my eyes on a potential short from 0.913

Let’s see what happens.

Let’s make use of the time we have to improve our trading plans or enjoy life outside!