Thursday 2nd of June

Good morning folks! I hope you are well!

It was the second night in a row where I have alarms every four hours in the middle of the night, second time it was for naught sadly – price has reached a lot of areas that are of interest to me, however, none provided a valid entry for my trading style.

More patience is needed apparently!

FX Watchlist

EUR/CAD

Euro Canadian wasn’t one of the reasons I woke up in the middle of the night, but it appears likely to potentially offer us a valid trade tomorrow or next week.

Let’s see what happens. We can draw the chart like this, or we can also mention the fact that we are currently in a very corrective sideways range (I am talking about the daily).

EUR/JPY

Euro Yen reached the area of supply yesterday which made me highly interested in it, however, since then we’ve only seen some sideways price action. We nearly had a valid entry around 3pm yesterday, however, the candle close didn’t work for me (the body size was too small for my liking compared to the size of its wicks)

GBP/AUD

Pound Aussie is on my watchlist for a potential trade. I’m just patiently waiting, the zone is quite big, but this would count as a retest of the trendline, maybe a double bottom kind of formation?

GBP/CAD

Pound Canadian is the second-pound pair has is forming a gorgeous double/triple bottom on the daily chart, let’s see what happens, it appears unlikely that an entry shall be provided for a script but I’ll be patient and wait for tomorrow to see if I can grab an hourly trade

USD/JPY

Dollar Yen is the last pair that is currently inside an area of interest to me, however, it’s currently moving away from it sadly. Let’s see if we can grab an entry today or tomorrow

Gold

Last but not least, gold, it’s rather interesting and fits quite well with dollar yen. That being said, we saw a clear move from the “wick to wick” zone, I wonder if it’ll work out for it

That’s it for today folks!

I hope you have a good one!