Good morning folks! I’ll admit, I haven’t finished my coffee yet and I started off by writing Tuesday 25th of November, so if you see any glaring mistakes I must apologize in advance
I executed 2 trades yesterday / last night so let’s dive into them:
NZD/CHF Long OG entry
I executed a long on the 4hour timeframe for NZD/CHF – the zone was a valid counter-zone in my book, we reached the area of demand and then reached the weekly stack (the red line) and then saw a clear reversal. I executed the long
Once I was in the position, I started looking for a potential scale in:
NZD/CHF Long 1hour scale in
There was an opportunity after the daily close so I waited a while and placed my order an hour afterwards to make sure the spread was smaller (the spread was still meaningful when I executed the 4hour position but not too much so I was happy to execute 10minutes after the close)
I placed my entry slightly above the 20BB basis point and my stop at the 20BB lower bound. As one can see, there was the possibility to enter slightly lower with a live position, however let’s be honest, me being up at 2am was highly unlikely so I preferred to set an order overnight
Some of you may remember I did not execute the trade last week since it didn’t follow my rules, I didn’t like the price action leading up to the entry, however it’s now about to form a double top, so if we break the previous high I’ll be looking for a short position
Is approaching the daily area of demand
Has been hovering for a bit too long, I’d expect a move this week to either the upside or downside – I’d like to see a move lower into a move back higher – but sadly this isn’t Amazon, I can’t order something and have it delivered within 24hours
Good morning folks, I hope you’re well and had an amazing weekend!
I went to San Remo in Italy, I really enjoyed it! Nice place & good laughs, what else can you ask for 🙂
Here’s the watchlist for today
While we did see a script signal on Friday, it wasn’t valid according to my rules since the price action was too “slanted” for my liking. You can notice that the price action leading up to the entry wasn’t the most decisive.
I know you can also argue that is actually was forming a lovely ascending channel, I won’t disagree with that statement
If we were to see a double top & a type of M formation I’d execute the short
We are once again approaching this area of interest, we’ve seen it form a sort of wall for the last few moves lower so let’s see if the bids take control of the price action if we reach it
I’m still looking for a slight move higher into a short
We’re approaching the area of interest on Pound Canadian, I’m just being patient, waiting to see price reach it – it also aligns with the 0.618 fib which is always nice to see
Kiwi Swiss is approaching/hovering above a daily area of demand, however the weekly stack is slightly lower (the red line) so I’m waiting for the price to reach the red line before executing a long position here
I executed a scale in on AUD/CAD last night, however by the time I woke up, well it reached my stop sadly.
Let’s hope we’ll see the price retrace back higher, that would be great 🙂
For those wondering why I didn’t execute AUD/CHF short it’s because there was no weekly or monthly stack
For EG, I’ll admit I’m unsure how to categorize it, last night I had decided it wasn’t clean enough knowing the zone was definitely not fresh but looking at it now, I slightly regret not taking it. I think that trade is one that will be based on your discretion
I remain in my long position on AUD/CAD, but so far no scale in opportunity have presented themselves. If we have no scale in but price reached the profit target anyway, I’ll still be happy 🙂 If it doesn’t I’ll still be happy because I took the right decision based on my plan
With that said it’s time for my
Looking for a move into the area of demand before playing a potential short. While I’m not the biggest fan of taking a long and a short on a currency sometimes it happens.
Aussi Kiwi saw a very strong impulse yesterday that bought the price extremely close to an area of supply. I shall be monitoring it today to see if a reversal starts to show itself.
Just a little lower please 🙂
Looking for a long play on this one once price reaches the area of demand
While this is clearly more of a phase line than a trendline we did cover 19 days while respecting it so I am keeping a watchful eye on this pair
I executed a long on AUD/CAD since we reached the daily area of demand and then closed inside (above the daily level) the weekly zone, which made it valid for me. It’s definitely not the cleanest set-up however, the opportunity was there so I had to execute it.
Let’s see what happens, I’m not in a scale in so far.
I am keeping my eyes on this one for a potential move higher into the area of supply
The long remains a potential play here, it remains a complex set-up tho
While it’s true that the recent impulsive move lower into a reversal is interesting. this area has already been tested by previous price action, I would prefer to see even lower prices before executing a long here
A slight move higher and then I’ll look for shorts
We saw the price pullback closer to the area of supply yesterday after breaking the ascending trendline, I’ll be keen to see what else happens 🙂 I’ll be waiting for the zone to be reached before executing a short tho
Before we dive into my watchlist, I just wanted to drop a message saying: Stop following gurus, stop even following me, build your own trading style, have your own trade filters, don’t rely on others to tell you what’s right and what isn’t.
You’ll rarely see anyone that’s successful in any domain asking for permission to do what they want in their “art”, they do what works with them.
Quit following people if you rely on them
Anyway, here’s my watchlist for today.
While I did remove it from my watchlist yesterday since I came to notice there was no valid weekly or monthly stack, after looking into it a bit deeper, I noticed there was a weekly imbalance just above, so as long as my entry signal closes above this red line I’ll be happy to execute a long position on this pair
We’ve now seen a daily close below the trendline that didn’t touch it making the new area of supply valid. If we have a move higher to retest it, I’ll be looking for a short in that area. Let’s wait until the river before placing our bets eh 🙂
Keep in mind that the area of demand is no longer fresh so I am not looking for longs from there
This one is borderline but let’s dive into it
We had a small correction higher which we saw a clear break of, which in turn created an area of supply.
This area of supply was then broken and we witnessed a daily close above it that didn’t touch the area. Which makes the new counter-zone valid.
There’s a weekly stack starting at the redline. If price reaches this level before giving me an entry I’ll execute a long position
This one is a lot cleaner 🙂 Looking for an extra move higher before taking a potential short if we have an entry opportunity
Another easy set-up to understand, a clear break below the trendline, a clear candle that closes without touching it, makes me interested in potential shorts once we reach this area.
Good morning folks, I hope you’ve had a fun weekend!
I’ll admit, I didn’t do much work and it was rather lovely, did a long run to Villefranche sur mer, which is beautiful, highly recommend the running if you’re ever around Nice!
Anyway, I guess it’s time for me to address my watchlist?
We remain inside a range, I’m just patiently waiting to see it get broken to the downside before considering a long from that zone
Keeping a watchful eye on this set-up, let’s see when it reaches it.
While I want to keep this pair on watch, it was a serious move away from the daily zone so I’m tempted to say it’s no longer fresh even tho we haven’t reached the weekly stack yet. Umph, will require some thinking if we get an entry in the weekly stack.
Dollar Yen broke and closed below the ascending trendline so I’m now looking for a potential bearish move
We saw some movement yesterday and the crypto markets seem to be pulling higher, but all in all, we didn’t see any price action that makes us more likely to execute a trade today.
Once again, before taking an entry here I’d like to see the price head a bit lower, I’ll admit, I’m quite sad since had the price been bearish for an additional 4hours before giving the script, I’d have executed it. However, it didn’t so I’m still on the sidelines
Dollar Swiss saw a huge move yesterday, looks like the move still has some legs today, but I’m keeping my eyes on it. While we did take a long from approximatively this area, this is a new valid area of demand, so we can be looking for a long here as well
These two are the only ones that could present us with an entry today.