Wednesday 2nd of February

Good morning folks!

I hope you’re well and are enjoying this first half of the week!

I just realized, I’m going to allow myself my first croissant of the month later on today while doing some testing, I’m lowkey excited yes.

Anyway,

Trade Update

EUR/NZD

I executed a scale in opportunity on the 4hour chart, while I know that in my backtest over a large timeframe the 4h20 aren’t as good as the 4h50 I’ve now got them in my trading plan so I want to figure them out, is there a way for me to make them more profitable & increase my strike rate? I hope so that’s for sure!

Anyway here’s the chart

Not looking too great for now, but let’s see, it’s still only early in the morning

FX Watchlist

I have absolutely nothing.

Sorry folks. No fun I know. But everything I’m watching will take a few more days to develop. So instead of spending time talking about them, I might as well be productive.

I’m currently diving deeper into the scalping / lower timeframe world. It’s quite interesting, or at least it is for me!

New stuff

Figured I might as well share what I’m currently looking into here.

I’ve developed a new indicator that uses volume in order to find zones of interest.

The way I’ve coded it is to find all the areas where the volume is above X standard deviation from the recent average.

The reason behind why I’m looking at volume (even tho there are dark pools & liquidity providers show different quantities of volume) is because when there’s volume that’s a lot larger than usual it’s usually visible across all providers.

If a lot of volume took place, it also means that there are bag holders (or at least, I’d assume so) –> those zones represents a good value for them to buy or short at the time so they’ll probably want to defend it.

Another option is that people will sell their bags that they’ve been holding underwater once price reaches breakeven once again.

While it’s still not perfect and I need to figure out a way to take entries based on these zones I think it’s interesting! Very interesting even 🙂

It may be even better in crypto compared to FX. Unsure. Time will tell.

Once I figure out a way to take these entries I’ll then start testing it out across currency pairs & crypto.

In the meanwhile, it looks cool right?

Anyway, take care folks!

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