Friday 20th of August

Good morning folks! I hope you’re well

As mentioned previously I’m being a lot more cautious on my investment account due to the drawdown I’m currently in so I’ve moved my stop on AUD/CAD and I’m now back with no risk on the table but holding UJ long and AC

Trade Update:

AUD/NZD: 0R

I had moved my stop to BE to avoid having any risk, glad I ended up closing the 4hour when I identified the likely move lower.

All in all, if my present circumstance would’ve been different I wouldn’t have moved my 4h stop to BE but I did

Anyway, enough talk!

FX Watchlist

EUR/AUD

Euro Aussie has reached (and is pushing through) an area of supply, we can see the price had some rather strong momentum behind it so let’s be patient and wait for the opportunity to present itself before looking to do anything

EUR/CHF

Euro Swiss is interesting and approaching an area of demand – with a clear area of demand

GBP/CAD

Pound Canadian is currently in a strong impulsive move going higher and is about to reach an area of supply, will be interesting to see what happens

Actually after checking the chart for a HTF I’ve noticed the zone isn’t fresh so I won’t be looking at it (but there’s a monthly stack)

GBP/JPY

We’ve reached an area of demand with a monthly stack – however the weekly and monthly 50EMA are slightly lower, just below the trendline I have drawn in, so let’s see if the price is attracted by those or if we see a reversal before hand!

GBP/USD

Pound Dollar is definitely worth mentioning, there’s a clear area of demand here the price is currently sitting as well as a weekly stack and the weekly 50EMA which once again gives us some added confluence 🙂

USD/SGD

Dollar Singapore remains on my watch, it’s more or less the opposite of GBP/USD in a way, basically just a play on the DXY

We’ve seen some clear deceleration so I’d like to see the price move a little higher to reach more orders before placing a trade tho, the weekly stack is rather gorgeous tho

And that’s it for today folks!

I hope you’re well and have an amazing weekend