Wednesday 18th of May

Good morning folks! I hope everyone is well!

Trade Update

NZD/CHF

Kiwi Swiss offered the opportunity for us to go long yesterday with an entry order on the pivot, which is exactly what I did.

It’s a new type of set-up for me, however, in my backtest, it appears to be worth adding to my arsenal, so that’s what we’re going to do.

On top of having recently rejected a zone, we had a clear retest of the 50EMA and 200EMA on an hourly basis, a retest of the pivot, and a pullback into the 0.382-06.18 fib area. All of this taken together was enough for me to be interested in this trade!

AUD/CAD

As I was writing up NZD/CHF I got an alert indicating I was triggered into Aussie Canadian for a long as well

Aussie Canadian is offering more of a corrective pattern on the Kiwi Swiss, which may be good, or may be bad, however, it remains a clear set-up in my eyes.

While I haven’t looked into the impact of the pivot being in the 0.382-0.618fib area this one is slightly above it, it’s on my to do list, however, I still feel comfortable executing this trade due to the HTF backing

USD/CHF

Dollar Swiss was triggered a few seconds after AUD/CAD, so exactly when I was writing up AUD/CAD – I wonder what will happen while I write this trade up! I no longer have any orders in the market so hopefully it’ll be a TP notification 🙂

This set-up is probably the one that makes me hesitate the most since it happens on a trendline, we haven’t yet really broken clean of it, ideally we would’ve seen a clear break lower before an entry, however, it was valid, so I executed it. In a similar fashion to AUD/CAD the pivot level wasn’t within the 0.382 and 0.618 FIB level, so going to be testing those factors out over the next few days!

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FX Watchlist

GBP/JPY

Pound Yen recently broke out of a descending trendline, I’m hoping to see one day of price action that doesn’t touch the area of interest before looking to add this pair on my VIP list 🙂

USD/CAD

Dollar Canadian is also currently breaking an ascending trendline – so I’m hoping for one more day of price action away from the zone before seeing it as valid

USD/JPY

Dollar Yen remains on my watchlist has it’s been there for the entire week, I’m just patiently waiting to see how it behaves if it reaches the area of supply

Take care folks! That’s it for today!

Oh and both NZD/CHF and USD/CHF were executed on my personal account, however, they weren’t executed on my “5ers” account due to their margin requirements on swiss pairs sadly.