Good morning folks!
I hope you all had a fantastic weekend and got to spend a lot of time outdoors! I’m starting to appreciate more and more spending time outdoors away from all my screens. Hopefully, it’s also improving my productivity when I’m in front of my said screens!
I remain long GBP/NZD and EUR/GBP.
I nearly closed those positions this morning since I was running a decent amount of profit, well, I was running across my accounts a new profit milestone.
Half of me wanted to close the positions to bank the profit and achieve the said milestone.
The other half, the one that prevailed disagreed.
However, the market doesn’t work that way. It would be stupid of me to close positions early and deny my long term edge purely based on P&L, had there been a valid area that was showing a lot of strength then it’s a different issue, but purely based on the profit I am running is definitely not a good reason.
I also came to realize I had set my next milestone a decent amount too low for me to be able to achieve it with such a little R. So I’ve increased the target 😉
Anyway, enough talk, let’s have a quick look at my watchlist? (Not much)
While we haven’t seen a real pullback from this area, I believe it remains valid, but let’s see what happens. As previously stated I’m long Euro so I’m happy with that.
While it doesn’t have the cleanest weekly chart, it does provide a valid monthly stack. Let’s see what happens here.
Pound Canadian is currently breaking out of a descending trendline, just above an area of demand. I’m expecting to see the area of supply to be tested before we have the true reversal.
The weekly charts offers us a great stack, so that’s fine on that side of things
Pound Dollar is now well inside the area of demand, that being said I’m not a big fan of the current price action. I only mention it in my watchlist in case something appears to fit my trading plan and I execute it.
Dollar Singapore has reached an area of supply. let’s see what happens from here, it does have a nice weekly stack so I’m happy to execute this trade if an opportunity presents itself.
A quote I’ve been pondering
“You create opportunities by performing, not complaining.”~ Muriel Siebert
Book I’ve just finished:
A Handful of Hard Men: The SAS and the Battle for Rhodesia
Not even an affiliate link, damn, I’m nice 🙂
This book really got me – it’s interesting to see this side of history, something I haven’t really been aware off. To be entirely honest, I’m unsure I had ever heard of the Rhodesian story – if I did, it was definitely a different point of view, the English one.
The story, the fact it’s based on real facts is what really got to me. These men seem to be real “heroes”.
Fighting under awful odds to protect their country.
Winning the battles and yet still losing the war.
All that because of politicians.
It’s interesting in this period of elections in France. Thinking what each presidential candidate would’ve done.
Heck, same with Zelenskyy, a president that stays in his country and takes us arms to defend it. Would the candidate you vote for do that?
(Just saying Le Pen owes Putin money and has said many times over that she would leave all partnership with the U.S. and instead become allied with Russia)