Good morning folks I hope all is well.
While I’m thinking about it, two people asked me if I was following a fitness program at the moment yesterday, I didn’t think it was something other people would care about, I’m definitely not the fittest or anything like that.
However, it’s true that I’ve noticed a correlation between taking care of my fitness & my work capacity & productivity related to trading so here’s the resource I’m currently using:
They also have a fantastic book which is how I came about this program, I highly recommend it
As mentioned in my watchlist yesterday I was looking for a potential short play on gold. Which did happen, a clear entry on the four hour and a clear zone on the daily according to my rules with a valid weekly stack makes me happy to have executed this trade.
No scale ins have currently been executed, I still have my full risk on this position
Let’s see what happens, but I’ll definitely be keen to see it break these EMAs and head lower, we can notice how strongly the 20EMA has been respected recently
Usually, I would’ve removed this pair from my watchlist, but since Europe had Monday as a bank holiday and everyone else also had the Friday off it explains why we spent so much time going sideways.
I will look for a short opportunity if we get a double top today, after that, I will no longer look for a trade here.
Pound Aussie saw a move lower overnight, I’m hoping it was to attract short sellers before having a move higher into my area of supply to form a clear short reversal. That being said, if we see the price drop from here, I’ll be happy as well.
No point waiting for the markets to do something you want. They definitely don’t owe you anything
Pound Canadian is on its way to form a clear double bottom, ideally, I’d like to see price head slightly lower to form a potential reversal inside my area of demand(that dates back to 2019) where we have a clear weekly stack
That’s it for today folks, back to my backtesting land 🙂
Oh and here’s a cool tweet thread