Good morning folks!
I came to realize I had titled yesterday post “Thursday 10th of January”, I believe it’s a sign I need to start posting these daily watchlists a tad later once I’m fully awake!
Anyway, let’s dive into the interesting stuff
Trade Update
GBP/CHF
As you probably recall I am not allowed to trade my normal size on my investor account on Swiss pairs, however, I took both positions with my normal risk on my personal account.
I took the original entry as well as a one-hour scale in. We reached a zone where supply was previously created therefore I was looking to use that zone for a potential short. We also had a clear weekly stack going with it.
On the 4hour we saw a succession of higher lows but no higher highs, a break above that area of “resistance” to reach our area of supply and then a reversal.
We also saw a clear ascending wedge with three rejections. All in all, I thought it was quite a pretty 4hour chart
In terms of my hourly scale in, I just followed my mechanical approach.
Let’s see how it plays out.
FX Watchlist
AUD/CAD
Is gone, no longer going to be on my watchlist
CAD/JPY
Sadly didn’t reach our weekly stack to give us an entry
EUR/CHF
EUR/JPY
That’s it for today! Keeping the rest for Monday!
Take care folks!
Bullish on Coffee - a Forex Trader Blog 