Gooooood morning folks! Had an AMAZING barbeque last night so I’m still buzzing from that delicious meat, well it may be the LavAzza Oro that’s talking and not the meat but whatever – the coffee is tasty as well.
Anyway, all that to say,
Not much happening on the charts today
I’ll be keeping my eyes on AUD/CAD, if we’re able to break above the 4hour 50EMA we may get a scale in opportunity
I am only in this position on my personal account, I had moved my stop to BE earlier on my 5ers account to avoid approaching the max drawdown limit. That being said, if we get a 4hour scale in, I’ll be looking to take it on all my accounts
This pair is mainly going sideways, it’s been inside the area of demand for quite a while and we can see the amount of indecision on the daily chart – since the beginning of August we’ve basically only had imbalances. Hopefully we’ll see a strong push higher today
Similarly to AUD/CAD I am no longer in this trade with my investment accounts, only my personal account
Dollar Yen is slowly moving higher which is nice to see, it’ll be interesting to see if we can break the highs since we are currently forming a triple top but let’s be patient. Nothing we can do here.
I didn’t take a 4hour scale in since the R:R to the TP was rather small – it’s a shame to remember that my 1h scale in was taken out by 4 pips but it’s part of the “game”
Pound Yen is playing out exactly as we’d have wished to see it play so I’m happy with that – I won’t be taking a four hour scale in due to the large stop loss it would require me to take
Euro Aussie is playing out as we’d be expecting it, so glad to see it move as it currently is, we’re just seeing a little correction, let’s be patient and wait to see if there’s some follow through.
Sadly, I wasn’t able to take the 1h scale in due to margin requirements… It is what it is I guess – but that would’ve been great.
That’s it for today!
Oh and – I’m looking to get started into stock trading, so if you have any ressources you’d recommend me, I’m all ears 🙂