Good morning folks! I hope all is well
While I did do a post on Friday explaining why I thought closing my gold position early for 2R instead of waiting for 3R I’ll admit it’s quite funny to see it having ran to my initial target as if to prove a point that you can’t really estimate the odds of success.
That being said, I still believe my reasoning was solid and I am more than happy to have executed the trade in that fashion. Had it reversed and reached breakeven I would’ve been delighted to have secured some profit and I believe the odds of that happening were high as well
Aussie Dollar is currently plummeting, (I don’t see a better word, maybe free falling?), however, that also means that we’ve reached an area that is of interest to me, it’s a counter zone with a valid weekly stack.
I’m carefully keeping my eyes on it for a potential reversal
Euro Dollar is interesting, the main issue is how deep we currently are compared to the size of the zone, so let’s see what happens but it doesn’t look very likely to provide us with an entry (let’s see if the market is going to prove me wrong)
Pound Aussie is on my watchlist, we’ve reached the weekly stack, and are currently seeing a railroad pattern, let’s see if we can get a script entry
Let’s see if we get a reversal, ideally, we’d see a few bearish days before a potential entry
Dollar Singapore is on my watchlist for a potential short, it’s a clear counter zone, the higher timeframe is less exciting tho, will have to dig deeper before executing a trade
Oil is getting closer to the area of demand I have highlighted let’s see what happens, there’s a few weekly stack options so wherever we take the trade from would be interesting
Have a good one folks!