Monday 17th of May

Good morning folks! I hope you’re well and enjoyed your weekend!

I honestly don’t think there’s much on watch for today so it appears I’ll mainly be backtesting πŸ™‚
Yes, I still backtest nearly every single day, I do sometimes take a day off but that’s rather rare.

In Climbing lot of accidents happen on the way back down, because people have reached the peak and believe it’ll be smooth sailing from there on. Same thing with trading,

A lot of traders reach profitability to then loose it because they stop working to maintain it.

I wouldn’t expect the best football players to stop practicing once they made it to a pro team, on the opposite!

So why should we reduce the amount of practice we get in?

FX Watchlist

CAD/JPY

We are approaching an area of supply that dates back to the beginning of 2018, let’s see if it still has some value.

Looking at the more recent price action we can see that the daily has been moving higher for quite a while so it wouldn’t be too surprising if we saw a correction once we reach that level.

Time will tell as per always πŸ™‚

GBP/JPY

Pound Yen is in a similar situation, we are approaching an old area of supply, it remains valid tho.

An interesting thing I want to point out in this case we’ll basically be following the same trend line we broke recently, we can see that the price still respects the area.

If we reach the zone and this trend line at the same time, that could add some confluence to our trade.

That’s it for today!

Friday 14th of May

Morning folks, hope you’re well!

Also, I’ve just realised I probably shouldn’t be writing good morning since I have no clue when you check this article – but I’ve got my cup of coffee so life is good.

We got to update you on the trades I took! Well, first the trades that got closed.

Trade Update.

EUR/JPY -1R

May this position rest in peace, it finally reached my stop loss, which is fine, I know close to half my trades are going to be doing exactly that so it’s something I’ve come to terms quite a while ago.

Looking back, I am still happy I executed this position, it was a clear SF set-up in my book, slightly above the area of demand however it remains within the 50% additional area, there was a gorgeous monthly stack so all in all I’ll take this set-up every time it happens! Except if my data on these changes.

GBP/USD +3R

Pound Dollar was a quick win, nothing to complain about it, it reached my TP shortly after writing my watchlist here yesterday morning, so I’m happy with it.

I did not take a scale in opportunity since the 1h50EMA was too low as well as the 4h 50EMA.

Once again, there was a gorgeous monthly stack, an extremely clear double top pattern on the daily with a nice U shape (well a lot more flat than a u shape but you know what I mean! Maybe a the shape or a paella pan!

New Position: GBP/AUD

I executed a short position on GBP/AUD once it reached the area of supply I was interested in, it had clearly broken an ascending trendline after the volume was absorbed so I’m happy to be taking a position here.

The first weekly area isn’t really valid since the imbalance isn’t stacked but if we look further back we have a valid stack in November, this 4hour entry is another SF position for me, so let’s wait and see what happens.

FX Watchlist

Let me be frank with you, I have absolutely nothing else on watch for today, I’ll be only interested in a potential scale in opportunity on GBP/AUD. None of the other pairs seem ready to give us a position.

As you can see we are currently resting on the 1hour 50EMA which has been respected or at least taken into account multiple times in the past, so I’ll be happy to see it clearly break it and drop πŸ™‚

Have a wonderful day & weekend folks & Speak to you on Monday!

Thursday 13th of May

Good morning folks! I hope you’re well

Just need to point out, that GBP/USD nearly reached my TP, it was one pip away, so let’s wait for the price to reach back down and break the low.

FX Watchlist

EUR/NZD

Euro Kiwi is approaching the area of supply that’s interesting to us let’s be patient and see what happens, if we reach it at all πŸ™‚

GBP/AUD

Pound Aussie is extremely interesting in my eyes, I may be taking a position on the next 4hour close.

Let’s keep our eyes open πŸ™‚

Loving it πŸ™‚

Wednesday 12th of May

Good morning folks! I hope you’re well!

Let’s dive straight into the trade update, I’ve closed a position and opened a new one.

Trade Update

GBP/CAD – 3R

The long position on GBP/CAD I had opened on Friday has reached its TP for 3R

I’m happy with it, there’s no “Oh I wish I had taken a bigger target” or “Oh I wish I had taken the 1h scale in opportunity”.

I executed according to my plan and it reached the objective so that’s what I’m all about.

There was a potential 1hour scale in, however, it took place at 10pm on Friday night French time – one hour before the weekly close so I decided not to execute it.

The price then never reached the 50EMA again so I did not have the opportunity to enter.

That’s fine, I place more importance on capital protection than on capital gains.

GBP/USD – Short position

Pound Dollar also gave us an entry opportunity last night at the close.

It’s not the prettiest four hour – however the daily and the monthly is rather gorgeous.

In terms of 4hour we saw a double top formation after having formed a clear U shape on the daily so let’s be patient and see what happens πŸ™‚

Now let’s jump into the

FX Watchlist

CAD/CHF

Yep I’m mentioning CADCHF just because it’s forming a double top on the 4hour, I’m not sure I’d say the zone is fresh anymore, it took too long to form the double top formation so not a big fan I’ll admit.

Just mentioning it so you have it on your radar

GBP/AUD

Pound Aussie is approaching an area of supply, but let’s be honest since I’m in GBP/USD I’d prefer if pound would drop like a stone instead of reaching it. However I’m not in control of the market so time will tell.

I’ll be ready to execute a short if we have the opportunity!

That’s it for today!

Oh and if you could send vibes for EUR/JPY to drop I’d be grateful πŸ™‚ Been a while I’ve been in this position ahah

Tuesday 11th of May

Good morning folks, I hope you’re well!

Trying to find things to share on my watch today but seems like a rather chill day that will be focused on backtesting

FX Watchlist

EUR/USD

While it reached the area of supply I am interested in yesterday and then moved lower without giving us an entry opportunity, it’s worth noting that it may form a double top, time will tell πŸ™‚

GBP/JPY

Pound Yen broke slightly above the area of supply I was looking at for a potential short and is now stalling, I’m okay with it stalling for 24hours, but I know how my script is coded and I doubt I’ll get an entry sadly.

GBP/USD

Pound Dollar is also worth mention – we reached the area of supply, let’s see what happens now! We still have quite a lot of room inside the zone so it may head higher before reversing.

USD/CAD

Dollar Canadian has spent too much time going sideways for me to be interested in a long opportunity sadly.

Have a good one folks!

Monday 10th of May

Good morning folks! I hope you’re well and had an enjoyable weekend!

Let’s dive straight into my watchlist?

FX Watchlist

EUR/USD

Euro Dollar has reached an area of interest for a potential short, let’s see how it goes, we nearly had an entry on the previous 4hour close had the overnight candle been bullish instead of bearish.

We didn’t tho, so I’m still not in this trade to the downside πŸ™‚

GBP/JPY

Pound Yen has reached the area of interest, let’s see how it reacts, the only problem is that it’s quite impulsive, it may be a bad sign for our EJ position sadly.

USD/CAD

Dollar Canadian is my last pair on watch for today.

We are currently breaking below the area of interest, but we’ll see what happens, we could get a trade today πŸ™‚

Never give up πŸ™‚

Have a wonderful day folks

Friday 7th of May

Good morning folks!

I’m in a really good mood today, I’ve just found a lovely new musicians I’m really jamming to (Gilsons) & really enjoying my new book (Accelerating Excellence by James King)

Anyway, enough talk about my life when I just took a trade, it’s time to jump into it

Trade Update

I just took a long position on GBP/CAD

We have just reached the low of the recent correction, I’m sure a lot of people will be looking to take longs from this area, so it’s not guaranteed.

We have a clear weekly stack (not fresh) that dates back to late June / early July.

This area has already been used as an area of supply quite a few times in the past, however this zone is fresh – it was drawn on the 11th of December to represent a counter zone.

Really enjoy this set-up. Let’s see what happens.

Oh and did I tell you guys I was no longer in my NZD/JPY positions yesterday? I think I did, but in case I didn’t, I’m out of all three positions for -1R (2 at BE and one for a full loss)

No regret on those losses, I know the rejection of a phase line has an impact on my performance but I can’t come up with a clear number from memory so it’s on my list of things to do.

Anyway, to recap

I am long in GBP/CAD and short in EUR/JPY.

Let the pip gods be on my side πŸ™‚

FX Watchlist

I love my job, I love trading I love understanding how currencies moved against each other, fuck me I’m grateful for this.

Anyway…

CAD/CHF

Canadian Swiss is on my watch for a potential short play.

We just reached the area of supply – we probably “pipped” it, however we didn’t get an entry signal on this pair this morning, so let’s wait and be patient, we may get something later on today.

The area of supply must be clear to everyone that’s been following this blog for a while now, it’s a gorgeous trend line break which also created its own weekly area of reversal, all in all, I’m liking this set-up.

If an opportunity is presented to us I’ll be looking to enter.

EUR/NZD

Euro Kiwi reached the area of demand yesterday and saw quite a strong move higher from it, it remains on my watchlist in case it forms a double bottom today and gives us an entry opportunity, let’s be patient, rushing in won’t help us.

It’s a question of patience πŸ™‚

EUR/USD

Euro Dollar is also on my watch for a potential short today.

We recently broke out of an ascending trendline, which in turn has created an area of supply that has a weekly stack, so I’m happy with that πŸ™‚

Let’s see if the price reaches it and if it gives us a script entry for a potential short play.

USD/CAD

Dollar Canadian is probably the last pair I’m watching for today, we have reached the zone from 2017 – which I’m quite surprised I had drawn it, I’m not the biggest fan of those long term zones, but it’s clear that UC is in need of a pull back πŸ™‚

The quaterly chart of UC is also quite interesting – it isn’t giving us a clear entry since there’s no fresh zones, however we’re forming a double bottom, will we see another leg up? Maybe

On the monthly we have another gorgeous setting of two zones that are stacked on reach other in this area, so let’s just put it this way, the demand will be here in this price range

The only problem I have with this chart is the fact that we’ve already had two bullish candles on the 4hour which means I’m not very likely to see a script signal to allow me to enter the trade.

I only follow my trading plan, so I won’t be executing a set-up that doesn’t fit my trading plan, but USD/CAD is rather pretty.

Let’s see what happens.

Oh and, I’d be happy if we see the CAD just drop like a stone and UC gain a lot of value since it would say that my GC position is paying off, so whatever happens I’ll be happy

But let’s leave you with a nice quote

Thursday 6th of May

Good morning folks, I hope you’re well πŸ™‚

Trade Update

I had to come clean, I took a loss on my 4hour scale in on NZD/JPY, however both my original 4hour entry and 1h scale in were taken out for break even.

I moved the original position to BE a little earlier than 2% (1.8% running or so) due to the rejection of the phase line – the 1hour scale in reached 2%+

All in all I’m happy 3 positions taken for -1% loss it’s all good – the risk reward was there.

Daily Watchlist

CAD/CHF

Clear move back up towards the area of supply, let’s see what happens.

EUR/NZD

Euro Kiwi reached the area of supply, let’s wait for a clear entry signal – we nearly had an entry.

GBP/JPY

Pound Yen is looking like CADCHF πŸ™‚

Wednesday 5th of May

Good morning folks! I hope you’re well πŸ™‚

Rather busy days to be honest. Took another trade so let’s dive into it.

Trade Update.

NZD/JPY gave us an entry over night, it’s valid, it’s a clear break and retest of the 4hour 50EMA – that being said, it did reject the ascending phase line which makes me feel a bit more hesitant.

I personally decided to take the position due to how clear the daily and clear 4hour ascending channel – it’s a risk, we’ve seen a rejection so we could actually have a move higher rather than a drop.

Time will tell.

Daily Watchlist

GBP/JPY

Pound Yen is on my watch, but once again it needs to go a little higher for me to be interested, I want it to reach the previous highs.

That being said, I’d be more than happy to see the Yen gain a lot of strength and have NZD/JPY & EUR/JPY drop strangely enough πŸ™‚

We don’t have a weekly stack on this one, we do however have a monthly stack so I’m happy with that πŸ™‚

CAD/CHF

Canadian Swiss is still on my watch don’t worry, I just wanted to trick you guys by starting with the Pound pair πŸ™‚

It’s still going to take a while before the zone is reached I believe, so let’s just be patient πŸ™‚

That’s it for today πŸ™‚

Tuesday 4th of May

Good morning folks! I hope you’re well!

Trade Update

I sadly have to update you that I took a loss on my EUR/JPY scale in, by a couple of pips, it’s sad but part of the game πŸ™‚

I recently said that I’ve had a lot of positive variance behind me so it’s only normal that I take a few losses to get back into my normal strike rate range

Anyway, enough talk, let’s dive into my watchlist

FX Watchlist

CAD/CHF

Canadian Swiss is still on my watch for a potential short play, I’m just waiting for the price to retest the high,

GBP/JPY

Pound Yen is rather similar to CAD/CHF I’m sure you’ll notice πŸ™‚

USD/CAD

Dollar Canadian is approaching the area of demand that dates back to 2017 so let’s be patient πŸ™‚

That’s it for today, short and sweet πŸ™‚

Oh and I saw someone commented yesterday asking about me bringing back the monthly recap – I have two questions for you

Is it okay if I post only the result & after view while explaining the set-up or do you want the before / after / thinking process before/ while holding / afterwards?

I stopped due to the amount of time it took me so if you’re happy with something simple I may bring them back!