Good morning folks! I hope you’re well!
Decided I’ll enjoy these calm few days to clean up my charts. Well, create a new layout to that I can have all the historical data on one layout but keep my actual trading chart rather clear and uncluttered,
It was becoming too much, made my testing faster but… Had drawbacks as well as you can imagine!
I am looking at CAD/CHF for a potential short over next week, it’s highly doubtful we’ll see it this week but figured I’d mention it since it’s now a valid zone.
While the trend line we recently broke isn’t the prettiest it did have a few rejections so let’s be patient.
I wouldn’t be surprised if we saw the price move lower retest the area of demand and form a clear double bottom formation before we have a move higher.
Euro Dollar reached the area of supply yesterday and saw a strong rejection once it got there, which is nice, it confirmed the fact there were orders in that area, but….
It didn’t give us a valid entry, the body was too small compared to the total size of the candle which to me means there wasn’t enough follow through / conviction in the move.
It remains on watch for today in case we have a move back into the zone and a pretty double top formation. We’ll see what happens
Dollar Swiss is still on my watchlist, it did reach the area of demand yesterday and saw a strong rejection from that area, it’s very similar to EUR/USD.
It remains on my watchlist for today and tomorrow, I want to see it go back into the area of demand, reach a little bit lower (where liquidity will be provided by those who put their stops below the recent double bottom) and then give me a script entry.
If that doesn’t happen, that’s fine by me, I just won’t enter a position on this pair for now.
Don’t expect the market to do what you want it to do 🙂