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™‚

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!

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

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!

Monday 2nd of May

Good morning folks I hope you’re well and had a fantastic weekend.

Might as well jump straight into the trade update section.

Trade Update

CAD/JPY

My short position on Canadian Yen was taken out for a full loss, it’s oaky, I’m happy I executed it as per my plan.

It wasn’t the prettiest zone, but it fits my plan so there’s nothing to change there!

It could potentially offer a re-entry opportunity today for those who like them, I personally don’t but… You are your own trader, I’m not going to tell you what to do and what not to do πŸ™‚

NZD/JPY

Having gone out on Saturday and barely slept I decided to allow myself to stay in bed until 8am French time today, I knew nothing important was on watch for early in the morning.

Well, that is, I forgot about placing a scale in order on Kiwi Yen,

There was a potential entry when I was sleeping.

I missed it.

I’ve placed an order at the area I was looking at.

That being said, we recently tested the 4h 50EMA and rejected it, so it could lead to the explanation of the move higher.

Let’s see if I get triggered.

Daily FX Watchlist

CAD/CHF

We still haven’t reached the area of supply for a potential short, we had quite a strong move higher last week, so let’s be patient, it would be a very pretty double top πŸ™‚

Let’s be patient is probably my most commonly used sentenced when it comes to my daily FX watchlist πŸ™‚

GBP/CAD

Pound Canadian is also on my FX watch for today, it’s a rather clear set-up in my book, I’ve adjusted my daily zone to fit with the HTF hence why it looks strange.

GBP/JPY

Pound Yen is also approaching an area of supply, it’ll be interesting to see what happens! We’re still decently far away from the zone tho.

USD/CAD

Dollar Canadian is clear for a potential long trade, we’ve been moving lower for over a year straight without having a clear reversal – the zone I’ve got drawn in dates back to 2017 so it’s a rather old one, but… It’s a rather pretty one πŸ™‚

Have a fantastic week folks!

By the way, out of interest, what is of most value to you, me sharing my trades or my watchlist?

I’d love for you to fill in this straw poll so I could know what I should focus on

http://www.strawpoll.me/45209334

Friday 30th of April

Good morning folks, I hope you’re well!

I took quite a few trades since my last message, all of those were on pairs that were on my watchlist yesterday so glad to see them take place.

Let’s wait and see what happens, I am happy with everything that takes place.

Trade Update

As mentioned, I’ve taken 3 more trades since I last wrote up my daily watchlist – NZD/JPY – CAD/JPY and EUR/JPY.

For those that are straight up thinking, but what about correlation risk Max? Don’t you mind taking three trades on the same currency pair across several pairs?

The truth is yes, I do, I am aware that it has a potential to make me vulnerable to events – that being said, I also know that when a set-up is lining up across several pairs it’s usually quite a good indication of a potential reversal.

To take 2 trades rather than the 3 was in my mind I’ll admit, but I decided to be a robot and execute all three since that’s how I backtest.

NZD/JPY

Kiwi Yen was the first trade I took, yesterday, we broke back inside the area of supply, broke above the wedge pattern and then gave us a rather strong bearish candle which I executed upon.

Since I am trading zones I don’t try to pick the absolute peak the price will reach, I’ll leave that part to guru that use 3pip stop losses, rather I’m happy to take a large position there and just patiently wait. I have no problem with the fact that the price hasn’t moved in my favour yet

CAD/JPY

Canadian Yen was the second pair I executed this morning just after waking up – even before making myself a cup of coffee! Can you imagine that?

Good thing I had my watchlist done because otherwise I wouldn’t have been able to be so quick πŸ™‚

In this set-up we clearly broke above the previous high to reach an old zone, which has a gorgeous weekly stack, I executed without any hesitation.

EUR/JPY

Euro Yen was also executed this morning straight after my CAD/JPY trade – it’s been on my watch for so long I believe you understand why I was interested in the zone, we broke above it, but once the candle closed it was within the 50% room for margin I give price, so I was able to execute.

Now my main question is can I delete my Wyckoff notes on this pair or not :’) I have left them on for quite a while now!

Oofff that was exhausting sharing all the trades I took:)

Hope you enjoy the transparency πŸ™‚

FX Watchlist

Now onto the future, what am I looking to trade today if we are provided with a clear signal from the market?

EUR/USD

Euro Dollar is on my watch for a potential short play, let’s see how the price reacts to the zone, it’s just a question of patience at the moment!

That’s the only pair that could potentially give me an entry today I believe, the others are still quite far away so just sharing one since I’ve just shared all my trades πŸ™‚

By the way, out of interest, what is of most value to you, me sharing my trades or my watchlist?

I’d love for you to fill in this straw poll so I could know what I should focus on

http://www.strawpoll.me/45209334

Cheers!

Tuesday 27th of April

Good morning folks! I hope you’re well and that the FX market is treating you properly πŸ™‚ Well, I hope you’re treating it properly – it doesn’t owe you shit.

I’ve noticed we had quite a good reception on the latest article I wrote – the 4 principles that drive elite trader performance – so I’m rather happy about that!

Thank you for sharing your kind words with me! It’s really nice to take a few seconds of your time to drop a message πŸ™‚

Anyway, what’s on my watch?

I’m sure you can guess at least one pair, it’s been there for like 4 weeks now πŸ˜€

FX Watchlist

EUR/JPY

Yep, you guessed right, I’m watching Euro Yen for a potential short, I’ve been eyeing it up since mid march so I guess it’s nothing new but… Maybe one day I’ll be able to take it short

The thing is, I’m fine if we take more time to develop it, we’re currently manipulating the highs, which in turn is giving us a clear wyckoff pattern – that being said, I don’t trade a wyckoff pattern, I want to wait to have the confirmation – have a sign of weakness before doing anything with it.

There’s no point trying to call a top, just follow your plan.

EUR/NZD

Euro Kiwi is also on my watch, it’s been moving sideways for nearly two weeks now I’d say, I’m waiting for it to break the lows, here since I talked about the Wyckoff method for EJ I might as well mention that we’re not really manipulating the lows they’ve been rather equal what we’re seeing is more of a manipulation of the highs – it’s a re-accumulation of the shorts.

That manipulation of the highs is quite a good indication that price may break the lows it had made, but the question is how far will it go once it breaks lower? Will it reverse once it reaches the area I’m interested in and give us a valid entry? I hope so, but time will tell πŸ™‚

NZD/CHF

Since we talked about Euro Kiwi we might as well talk about Kiwi Swiss (Cheese!)

In this case, we’re approaching the area of demand, I’m not really sure what the price is currently doing on the 4hour, to me it looks like a correction if I’m being honest with a double / triple bottom and the same for highs.

(Yes I am aware that the daily could be indicating a bullish re-accumulation if I were to talk about the Wyckoff method – yet as I mentioned, I only really look at those patterns only once they’ve been confirmed)

Let’s wait and see what happens!

NZD/JPY

Kiwi Yen is also on my watch for a potential short, I like the area, I’m not too sure if we can say it had been reached previously – so as long as we enter the zone and go a bit higher I’ll be willing to execute the short from there.

There’s a rather clear wedge pattern paying out on the daily, that occurred once the price broke the ascending trendline – all in all, it could be exciting πŸ™‚

USD/SGD

Dollar Singapore is also worthy of a mention, we are approaching the triple bottom area that is of interest to me, the price has been moving lower for quite a while now, the DXY and EUR/USD are both approaching areas of potential reversal so let’s wait and see πŸ™‚

That’s it for today πŸ™‚ Well, I also have alerts on different pairs (for example EUR/USD) but I don’t believe we’ll get something today so I’ve kept my mouth shut πŸ™‚

Have a fantastic one team!