Monday 23rd of May

Good morning folks!

I hope you’re well and had an enjoyable weekend! Got to meet up with an old friend I hadn’t seen since 2015 yesterday so that was great!

Anyway, you’re not here to learn about my life, and if you are, it’s kinda creepy. Just ask.

Trade Update

Gold

I executed a gold trade LONG on Friday, as mentioned on the watchlist I was waiting for a clear entry and it has since then reached TP for 1.55R.

I’m happy with the execution, even more so since it gave me the time and a boost to collect more data in a recent backtest.

This trade was basically a picture-perfect example of the type of trades I want to be executing in the future

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FX Watchlist

Gold

I’ll start this up with mentioning gold since that’s where I literally just picked off.

We’ve broken the descending trendline – ideally, I’d like to see price action remain above the area of demand and trendline for one extra day without touching either of them, but in any case, it’s looking good for a potential reversal in my books

AUD/CAD

Now back to real FOREX and not commodities, oops 🙂

Aussie Canadian is getting closer to a counter zone / an area of supply.

I’m keeping my eyes on it to see how price reacts to this zone – it’s quite a nice area since it also kinda fits with the descending trendline, so we have a couple of confluence factors there.

AUD/CHF

Aussie Swiss seems to really like this trendline, it remains on watch in case we have a strong breakout, but only time will tell so I’m being patient here

CAD/CHF

Canadian Swiss is also approaching an area of demand combined with a trendline, so it’ll be interesting to see what happens here.

GBP/AUD

You folks that come here regularly must be starting to get sick of me mentioning GBP/AUD on my watch, but it remains there! I’m patiently waiting to see if price heads lower for one final move before a reversal

That’s more or less it for today folks!

Take care 🙂