Tuesday 30th of August

Good morning folks, I hope everyone is well!

I executed two live trades yesterday on USD/SGD so let’s dive into the trade updates before looking into the watchlist

Trade Update

USD/SGD

We reached a daily area of reversal which had a great weekly chart as well, which made me rather happy to execute this set-up on the higher timeframe

On the four-hour chart, we witnessed a clear double top pattern and a clear reversal candle on this time frame

Let’s see what happens from here!

On the hourly chart I saw an opportunity to scale in, so I was happy to place an order

NZD/JPY

You may also remember that I am currently in a NZD/JPY short position, I figured I’d talk about it since I’ve been holding it for a long time and don’t want to surprise you with a result (you can check the 16th or 17th for the trade announcement)

We’ve been dealing in a range for quite a while now on the hourly, but also the daily chart

On the hourly time frame, I’m quite happy to see a breakout of this range, we saw perfect equal tops so a lot of stops were above that range, I wouldn’t be overly surprised if we saw price reverse and head lower from this level

That being said, we could also witness price head higher and reach the upper range limit on the daily chart. There’s no guarantees


Watchlist

CAD/CHF

We kinda spiked the area of interest, but it remains in my watchlist

CAD/JPY

Clear area of interest with a strong compression in the price action

USD/JPY

Clear area, however we didn’t really have a great entry signal so I remained outside of the position for now, doesn’t mean I won’t find an entry

Gold

That’s it for today folks! Take care!

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