Looks like today is our lucky day! Love Friday the 13th. No clue why.
Anyway, sorry if this update is late, I’ve been trying to install a new Nespresso machine at home so it took me a while to get it set-up, cleaned, and well I had to try two different expressos…
To be fair, there’s not much on my watchlist anyway so we should get this done by 9am.
By the way, I wrote a post about my self review process here: https://bullishoncoffee.com/2020/11/15/self-review/
Will be keeping an eye out on Pound Aussie today, I doubt it will reach the area of supply today, but it’s always better to mention it even if it’s not reached.
That being said, I started writing about it before looking for a weekly stack, and apparently there’s no weekly stack that I can see on the weekly or monthly.
If you see a stack please do reach out to me, otherwise I’ll “bin” this pair
Pound Cad looks a lot better than Pound Aussie, mainly because it has a clear stack and it fits market structure.
I no longer trade market structure, however when I see a set-up this clean it’s hard to ignore.
I’m just hoping we reach the area of supply before reversing lower.
In terms of 4hour set-ups, that’s all for today.
However, as mentioned yesterday I am also in NZD/USD and GBP/NZD both of them are in profit so I am now looking to take a scale in on both pairs.
Kiwi dollar, was one of the trades I took yesterday for a short position, as you may notice I entered a fair amount lower than the 4hour close.
To be entirely honest, I really struggled to get out of bed so that’s why, I was 10 minutes late to the charts which made me add close to 10 pips to the SL (I entered 7 pips below + 0.5*7 = 10.5pips)
So no ideal, but sitll valid.
I’ve mentioned this trade set-up a lot of time so I hope it doesn’t come as a surprise that I took it:
The bias to go short on the Kiwi was there on this pair too, the area of demand had been mentioned multiple times, so I was happy to execute on this trade set-up.
We nearly got taken out of this position, however we remained within it, so all in all, we’re happy.
I’m now looking for a potential scale in.
Quick Max, you only got 11 more minutes to go before 9am!
I have to admit, the 2 expressos are kinda helping, or are they? My mind is everywhere, but I guess that’s quite common.
I’m re-reading Onwards by Howard Schultz while waiting for my new books to be delivered, it’s an interesting view into the difficulty of relaunching an organisation, coming back to the role of CEO after having left it and it shares a few important business tips.
The two books I’m getting delivered today or tomorrow are:
Paris 1919 Six months that changed the world
I think it’ll be interesting, I really do believe that 1919 led to the world war 2, that world war 2 led to the mess in Middle East / Africa. Basically I believe that wars always lead to another war.
It’s good for the economy sure, but it’d be interesting to read more into the thoughts and what really happened back then
Empire of Cotton: A New History of Global Capitalism
Kinda explains what it’ll talk about in that title 🙂
I haven’t read either yet, but I’m excited
The Marshmallow on the table must BE FREAKING HARD.
Do the same with your trading, expose yourself to charts, to trades but don’t act on them until you’ve managed to control the urge to get exposed to the markets.
BOOOM IT’S 8:55 I MANAGED.
LONG LIVE CROISSANTS AND EXPRESSOS.