Good morning folks, I hope you are well!
I’ve arrived in Marseille, so now it’s time for me to figure things out, you know, the important stuff – where are the good coffee shops. All the rest will come afterward right? I mean, without coffee can you really enjoy life?
I already found a nice brewery yesterday, so that’s a good start 🙂
Anyway, time for the bad news.
THREE TRADES TOOK PLACE OVERNIGHT
I have orders to catch all three of them, however, it’s not guaranteed that they will pull back to offer me a trade entry.
I decided to place orders since had I been awake (or backtesting) I would be in these positions. While a pullback to their original entry prices would lower the likelihood of success, I’ve decided to keep them on.
AUD/NZD
Not going to dive into the 1hour, where there was a scale in, however, there was one so I’ve got an order there as well.
AUD/CAD
Also missed the original entry on Aussie Canadian. Ugh. Well, nothing I can do about it I guess. Except for placing alarm clocks overnight, which is something I have decided against a long while ago. But this hurts.
Please do not take the same positions if they do not fit your trading plan. They have a lower strike rate than executing at the original time of entry.
FX Watchlist
AUD/JPY
Keeping this pair on watch for a potential double top formation, however, I’m keeping in mind I have a bullish bias on the other pairs.
NZD/CHF
Clear area for a potential short is above this area, so let’s keep our eyes on
USD/CHF
It reached the area of interest and started to pullback, so I am personally “hoping” to see another leg higher and then a reversal before taking my position short.
Bullish on Coffee - a Forex Trader Blog 