Tuesday 2nd of November

Good morning folks! Considering sharing my crypto activity here as well, however I want to keep it clear that I am a “beginner” in the crypto space compared to FX – I’m not sure there’s much value in me sharing them.

Anyway, I got trade updates

Trade Update:

CAD/CHF scale in

I took a scale in on Canadian Swiss yesterday, it’s a new type of set-up I am forward testing with low risk – in my backtest it’s profitable and has stats I like (both in terms of R:R and S/R). I am basically placing an order once I move my initial stop to breakeven, and will then trail my stop above / below the market structure

EUR/NZD Long

I executed a Euro Kiwi long as well since it reached an area of demand according to my book.

While it’s not the prettiest set-up, actually it’s quite ugly, I believe it was valid. We saw a strong move lower (however it was only based on one candle) and we then got five candles of sideways price action before our entry which fits my criteria.

All in all, it’s valid but freaking ugly. I believe the edge remains there.

FX Watchlist

EUR/CHF

Dropping like a stone and approaching an area of supply, this area is gorgeous

GBP/AUD

Keeping my eyes on Pound Aussie for either the creation of a new zone or a move into supply

Crypto trade

HUM

Executed the trade after seeing how it surfs the 10ema, 20ema, clear wedge pattern, nice candle breaking the pattern on the 4hour, clear area of support respected as well, entered at the break of the 8-9am hourly candle.
Main con is the low volume it has.

Crypto watchlist

OMG

Love the ticker, clear wedge pattern on the daily, retesting an area of support (and bouncing off from it) surfing the EMAs, retested 50EMA, decreasing amount of volume on the daily, which shows an accumulation

MATIC

Saw a retest of the previous high, bounced off from it, surfing the 10EMA, the range is getting tighter and tighter, volume dropped back to the normal range where it’s trending (on the 4h).

REEF

Trying to catch a runner that’s already left the station? It’s possible, however it remains an interesting area for a potential scale in had I been in the OG trade. The OG trade gave everything I like to see (surfing, break, retest etc). We are now retesting the highs it made, surfing the hourly EMAs, formed a wedge on the 1h / 15min?

That’s it for today