Thursday 16th of June

Hope you guys are well!

I’ll admit, this is coming to you a tad later than usual, had a few guests over yesterday which meant a late bedtime 🙂

Made me chuckle when I logged on to WordPress just now, yesterday’s post where I cover the 10.8R I banked only got 3 views, one of the posts that has the least amount of views (sure it’s the most recent one but still)

One day I’ll care about views maybe, but this just makes me giggle, people just want it handed to them.

Anyway

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Trade Update

Gold

Gold has reached an area of demand on the daily chart, a clear trend line break occurred from that level, we’ve also broken the most recent low to grab some liquidity, however, I do not believe a trend change took place there since there was no real swing high on the way there, we had barely any displacement from there.

On the hourly, we can see a clear break of structure and a beginning of a bullish trend + break and retest of the 1h50EMA after some bullish momentum + retest of the daily pivot.

All in all, it fits great with my 1h50pivot entry type.

FX Watchlist

I actually doubt anything is going to happen in FX today – out of all the pairs I have on watch, not a single one is looking ready to give me an entry

Let’s have a brief look at the pairs I believe are close tho and then we’ll look at gold where I’ve got an order (I’m going to talk about it last since I’ve got a live order there, and waiting to see if I get triggered in) –> It happened, I got triggered into the position while writing this section

EUR/JPY

Euro Yen is approaching an area of demand (a counter-zone) that aligns rather well with an ascending trendline, all that to say, there’s some nice potential in this area

EUR/USD

Euro Dollar has been going sideways for a tad too long if you were to ask for my expert opinion 😉 I’d be quite surprised to see it reverse from here since the double bottom formation is plaining crystal clear – I decided to highlight in a circle the most recent “perfect double bottom”

You can notice they were respected for a handful of days before breaking

GBP/NZD

Pound Kiwi is approaching an area of demand / that’s both a trend line break and a counter zone, so I expect to see some strength coming from that area

NZD/JPY

Kiwi Yen is also worth noting, it did break from the recent trend line / phase line pattern and did reject the previous area of demand, will we see a pullback before even more downside?

USD/CHF

Dollar Swiss is currently messing around with n area of supply, we saw price reject the level but it now seems willing to retest the level once more (or form a set-up I call a breaker, however, it sadly doesn’t fit in my rules due to the stop sizing)

Take care!