Tuesday 1st of March

Happy new month! Pinch Punch, first day of the month and no returns & all that sort of things.

Let’s dive straight into the trade update (I am out of AUD/USD for BE)

Trade Update

AUD/USD Short 0R

I executed a short on Australian Dollar / Dollar to look form a potential 3:1. Once the price reached 2R I moved my stop to breakeven. I expected a pullback to reach the ascending trendline and the 50EMA however it closed above on a daily which gave it enough strength to remain bullish. Hence I’m happy with a break even trade.

FX Watchlist

AUD/NZD

Aussie Kiwi recently broke an ascending trendline so I’m keen to see how it will react to the area of supply it recently created

GBP/AUD

Pound Aussie is dropping like a stone and approaching an area of demand, let’s be patient and see what happens once we reach it

GBP/USD

Similarly to GBP/AUD we saw a strong leg lower, however we’re already witnessing some buy pressure on this pair so let’s see if it makes it to the area of demand

USD/CHF

Dollar Swiss has been more or less everywhere recently, but it looks as if it’s going to test an area of demand. Let’s see what happens

USD/SGD

I want to mention Dollar Singapore since we created a new area of demand

Stay safe folks!

(1/2) The results of this poll clearly reflect what I've been beating a dead horse over for years… people don't struggle from lack of knowledge, they struggle from lack of discipline (shit risk management & shit impulse control). https://t.co/3NnxO91WcZ

— AllDayFaders (@team3dstocks) February 28, 2022