Wednesday 18th of August

Good morning folks!

I hope you’re well – life has been rather busy these last few days with the markets moving so much so let’s have a look at trades I took and are closed

Trade Update

EUR/USD 4h scale in: -1R

USD/JPY 1H scale in: -1R

Sadly losses are part of this business, we will always incur them.

Anyway, enough talk let’s have a look at my watchlist

FX Watchlist

AUD/CAD

Aussie Canadian is interesting – we’re now seeing a double bottom in an area of demand so let’s see how the price reacts

AUD/CHF

Aussie Swiss just reached an area of demand – let’s see if we can get one more push into the zone

CAD/CHF

Will only be interested in it if we make a new low before having an entry signal

EUR/AUD

I’m mentioning Euro Aussie however it’s unlikely I shall take a trade on it now

EUR/CHF

We’re approaching the area of demand

EUR/NZD

Euro Kiwi reached the area of supply yesterday on the news, however we’re pulling back, towards it, as long as the price action forms an M I’ll be happy to take it

USD/SGD

Let’s see if we push into it

DXY

Let’s be honest this is the most important one:

Whatever happens on the DXY will give us the direction for the next month or so – we’re currently stuck in a triangle formation with an area of supply above it, so let’s be careful

I think that’s it for today folks!

Have a great one