Good morning folks! I trust you had an amazing weekend!
FX Trade Update
I believe I haven’t shared the two trades I executed last friday, so let’s see what happens.
Aussie Canadian short is a trade I executed on Friday (I moved my stop to breakeven this morning)
We saw a lot of sideways price action just below the area of supply – which made me hesitate a bit since it mainly meant that we were grabbing the highs to get some liquidity before a reversal.
We’ve now reached the area of support, so looking forward to seeing the end result.
Pound Aussie was a long I executed on friday, I believe at the same time as the AUD/CAD position, we saw a clear move into the area of supply and a retest of the descending trendline, all in all, it was as expected.
I was happy with the set-up, I am happy with the execution.
Clear area for a potential reversal – we saw a break of the ascending trendline
Waiting on price to reach this area of demand
Clear area of supply. we’ve currently broken it, however it remains of interest to me
Pound Canadian broke the area of interest but is currently offering us a reversal, I’ll wait for the close to confirm the trade on the next 4hour close.
Pound Kiwi is forming a potential area of supply, I’m unsure how I feel about it, it didn’t show any strong movement from there and it had more or less broken the area of the trendline, so I’m a bit hesitant there
Dollar Yen is interesting, we’re in the zone, I doubt we’ll get a valid script entry, but keeping my eyes on it for an entry tomorrow
Take care folks!
Sorry for the low quality of images, I’m unsure why that happened today again