Thursday 16th of December

Literally, at a point where I only remember the day based on the advent calendar, I’m a simple man.

Anyway 🙂

I wrote a small thread yesterday on one of my twitters about a mental model I came across from Chris Sparks yesterday in terms of knowing in which “games” / “markets” to participate

That being said, I will keep trading FX since I have an investor account that is focused on that market so it’d be stupid of me to fully focus on one market rather than opening my options 🙂

Anyway, with all of that said, it’s time to have a look to my watchlist!

FX Watchlist

AUD/NZD

Is no longer on my watch, the zone already wasn’t the prettiest but now the price action reaching this area is rather slanted therefore I am no longer interested in taking a short from that level.

AUD/JPY

While I’m mentioning AUD/JPY for a potential long this isn’t for today, I want to see another daily close above the descending trend-line for this area of demand to be valid.

EUR/AUD

Euro Aussie remains quite far away from the area of demand, however it could reach it within a day or two so figured I might as well mention it

USD/JPY

I am waiting for the price to reach the area of supply, however it may take a couple of days before it is reached in a similar fashion as other pairs, I’m remaining vigilant but I think we can “chill” for a bit in terms of live markets

Gold

I am looking for a new entry on gold, I believe we may soon see the start of a bullish run, the FOMC may have helped launch it yesterday. I won’t fat finger it this time 🙂

For those wondering if I executed Copper yesterday – I didn’t, the stop loss was huge hence I stayed out of the market, having such a large stop would force me to hold a position over long times and target areas of price that are rather far away

Crypto

I executed a few longs yesterday

SOL/BTC

I executed this trade once we closed above the descending TL and broke the most recent high to prove a change in behaviour of the price action

In a similar fashion I also executed a trade on the SOLUSD pair

SOLUSD

We had a gorgeous weekly stack for SOL which fit with a daily area of demand, swept the low to get some liquidity, broke out of a descending wedge on the hourly, came back to retest it (which was also the 50% retracement) and then formed a railroad pattern, which made me execute the trade

BNBUSD

For BNB (While I’m not the biggest fan of trading exchange coins) we reached the daily area of demand which broke the previous area of supply, it was also a weekly stack so we are aligned on the higher timeframe side of things. On the more recent price action we clearly formed a range (and did a clear three tap type of pattern) so I executed the trade once we close above the most recent high (which was also an engulfing candle on the 4hour). We are able to witness a descending channel as well, which we rejected to the downside so far, however, I’m fine with this, I’m not surprised to see a correction before breaking it to the upside.

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