Friday 8th of July

Good morning folks! I hope you are all well, and had an incredible morning! It’s also my birthday today, so let’s hope the market is willing to work with me 🙂

One thing is for sure, my workout plan definitely didn’t know it was my birthday, or maybe that’s why it wanted me to suffer 😀

Anyway

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FX Trade Update

GBP/USD -1R

Pound Dollar sadly didn’t care about today, triggered me in, and within an hour reached my stop loss. Oh well, it happens.

The entry was clean, it fits perfectly my rules, I have no issues with this trade, it fits my plan:

• Reached a fresh daily demand area
• Broke the 50EMA
• Retest of 50EMA within th2 20% range of pivot.

No counter signal.

I’m happy with it – some trades just don’t play out.

It does make me wonder if there’s an edge to take a second shot on these entries with an entry at the stop loss and an SL at the next pivot level or even yesterday’s pivot. Something to add to my ever-growing list of “to test”

GBP/CHF

Pound Swiss also presented us with an entry this morning which we executed beautifully upon. It reached the 20% margin by the time of entry, which enabled us to execute this trade.

Once again, we saw a rejection of a daily area of demand, clear impulse higher, break of 50ema, retest of 50EMA + pivot – let’s see what happens.

FX Watchlist

Those were the only two trades I believe I could execute today that fit my trading plan, so will save time and avoid repeating the watchlist from yesterday & Monday and instead get some +EV work done!

Take care folks!