Monday 16th of May

Good morning folks! I hope you’re all well and had an enjoyable weekend

I’ll admit I didn’t look at a single chart this Sunday, I really felt the need for a break, and I feel great today, I may add that part to my weekly routine now.

Think I overdid the backtesting recently :S

Trade Update

EUR/CAD -1R

Euro Canadian offered a great set-up this Friday, however, sadly it resulted in a loss. I had previously removed EUR/CAD from my the pairs I trade to increase my average return, but over the last two years it’s been a positive experience trading it so I feel comfortable adding it back to my “roster”

Daily Watchlist

USD/JPY

Dollar Yen recently broke out of a descending trendline it’s been “stuck” inside for quite a while, so I’m keeping my eyes on it in case we get a retest of that area of supply. It’ll be interesting to see what happens so I’m keeping my eyes on this one & an alert. It’s probably the prettiest set-up for the week.

For those that are using Oanda as a data provider, you may say, “But Max, we don’t have data going back before 2003, how do you know if there’s a weekly stack” –> I’ll answer, change data source to FXCM you’ll get more data, sure here’s no stack, but I’ve noticed that recently it remained +EV to execute trades even tho they don’t have a stack

This was the only pair I’m watching for a trade today, sorry for the lack of excitement, but it is what it is, I’m going to be quite drastically reducing the number of areas that are of interest to me due to my recent backtest results.

But as I always say, I’m not here to provide you with amusing content, I’m here to track my evolution as a trader 🙂