Sorry for posting this a tad later than usual, I really needed to focus on a few other things beforehand even tho my watchlist was done a while ago, sharing it is definitely not on top of my priority list
I executed two shorts on Aussie Swiss this morning, only on my personal account due to margin requirements while trading Swiss Franc with my prop firm (5ers), I’ve come to realize it’s easier to ignore them than having to calculate margin requirements since it can become extremely annoying when you have other trades running or that you want to execute trades
The first position was a traditional 4hour entry – my script clearly showed that a potential reversal was taking place, the supply area was fresh and remains the most recent one, so I was happy to execute this trade with no hesitation.
While it’s true that we broke above the area of supply, we remain within the overall area that is of interest to me so that’s fine
Having executed my 4hour entry, I was then allowed to start hunting for potential scale in opportunities, the first one I came across took place only half an hour ago, a retest of the basis line of my 20BB – it didn’t reach the outer bands so I was happy to execute this trade.
That being said, I did notice something – the fact that price was rejecting the daily pivot level and didn’t close below it, I wonder if that’s something I should look into as a potential filter? Would be keen to know if you guys have any thoughts!
And for a reminder on my positions: I remain short on AUD/CAD (the position is risk free)
I am also long on GBP/CAD
Going to keep it a lot shorter on this side of things for today
(Hoping/Expecting the Canadian to gain enough value for my AUD/CAD position to TP and then reverse, offer an entry here and then head towards GBP/CAD TP as well, that would be lovely)
Let’s see what happens here, but I wouldn’t be overly surprised if we saw a small / big retracement over the next week or so after the current push we’ve seen
While I’m still not the biggest fan of this area, it remains on my watchlist
Seeing my bearish bias on two pairs for GBP doesn’t make me feel overly comfortable with my GBP/CAD position since it’s in the red, but hey, it happens, it’s fine
Hopefully, all four positions will reach their TP