Tag: Daily tweet

Posted on

Thursday 7th of December

Good morning folks! I hope you’re well!

Rather crazy to see what happened in the US overnight, surprised there wasn’t more volatility in the currency world or even the SPX.

I guess big institutions weren’t surprised, I guess we shouldn’t be either.

Anyway, not here to talk about politics? Let’s get into my FX watchlist!

FX Watchlist

AUD/JPY

Aussie Yen remains on my watchlist for a potential short. It is now within its area of supply, so we just have to wait for a trade entry to present itself if there’s a set-up that fits our trading plan

If you are wondering why I did not take a short on AUD/USD, an entry presented itself at 7am my time, it is because my strike rate on AUD/USD is actually rather bad – other 8 trades since 2016 the average return is negative.

CAD/JPY

Cad Yen is also reaching its area of supply for a potential short today. We reached it yesterday so hopefully it doesn’t take too long before we have a script entry for a potential short. Otherwise, I’ll be forced to stay on the sidelines if we exceed 24hours within the zone as per my trading plan.

EUR/AUD

Euro Aussie is approaching the area of demand we’re not there quite yet, but we could have an entry presented to us tomorrow, or even tonight, it’s worth keeping our eyes out on this pair.

EUR/USD

Euro Dollar is also approaching its area of interest, this time an area of supply not demand, so we could potentially see a short set-up being “offered” to us in the close future.

We’ll see how the price action sets itself up before we get an entry, as you may remember I don’t like taking trades where the price action leading up to an entry is more or less sideways, so we’ll have to wait and see how it looks.

GBP/NZD

Pound Kiwi is now within its area of demand, however, as mentioned yesterday, I am not looking to get into a long position before we reach the weekly stack, which is equal to the green box on my chart.

Once the price reaches the green rectangle I’ll be looking for a potential long, not before.

Daily Tweet

Too good / too real not to share

Posted on

Monday 4th of January 2021

Good morning folks! Happy new year, best wishes etc.

Now that the pleasantries have been done, let’s dive straight into our watchlist?

FX Watchlist

AUD/USD

On Aussie Dollar we are approaching an area of potential supply that was created as a counter-zone back in April 2018. While it may be a rather old zone, nearly three years old, it remains valid since we didn’t test it yet, it remains fresh.

That being said, there’s no weekly stack, we are forced to on on the monthly chart to find a stack. On the positive side of things, the quarterly chart does looks like there is potential to the downside, even tho we are currently seeing a rather strong trend.

While I am not mentioning AUD/JPY, it is on my watchlist for this week, I doubt it will give us an opportunity to position ourselves today.

CAD/JPY

Cad Yen is once again back on my watchlist for a potential short. As previously mentioned we can notice that the price remains trapped below 82 and is forming a rather clear wedge pattern.

GBP/CHF

Pound Swiss is the third pair I have on watch for today we are approaching an area of supply with a rather gorgeous weekly stack, that being said, it will probably only give us a script entry tomorrow, we are still over 60 pips away.

There are other pairs on watch that still need to develop themselves before being included in this watchlist, however this week looks rather promising.

Daily Book

Finished reading Dune a while back, was quite good, different from the type of books I usually read, I’m currently using Scribd to real “Think like a Billionaire” quite a ballsy title I’ll give it to you. What’s interesting is that it’s mainly a collection of interviews with successful people.

I tend to listen to podcast with them but I rarely read transcripts of their conversations, I think it’s a great way to use another part of your brain to memorize the journey they all took to get to their point.

One interesting point that’s coming out for me that I never really picked up on is the importance of being likeable and funny, you need to have a sense of humour to get your foot in the door and connect with the people. Sara Blakely for instance did a lot of stand up comedy in order to improve that skill. It could be worth looking into.

Daily tweet

Posted on

Monday 21st of December

Good morning folks 🙂 I hope you’re all well!

I’ll probably do this blog post and tomorrow but then take a break, it takes a lot of time doing these and I’d prefer to focus my time and energy on my family when we’re all together for once

As a reminder, I am still short on NZD/JPY, there could be a potential 4hour scale in opportunity after the next 4hour closes, well, that is if it doesn’t touch the EMA, however, the price action has been consolidating sideways for quite a while now.

Oh and when I’m at it, just made me realize, I’ve got a blog post out for you guys with Pat Bailouni, a coach, I wrote up about our session, you can find it here:

https://bullishoncoffee.com/2020/12/20/coaching-session-with-pat-bailouni/

FX Watchlist

AUD/CHF

Aussie Swiss is on my watch for a potential short, I doubt it will happen today since we’ve only seen bearish price action from the open so far.

My area of supply is around 0.678, I shall be looking to short from this level. The current price is also a rather strong supply area, I’m not trading it because it’s not fresh, we’ve already used it twice to send the price lower.

I wouldn’t be too surprised to see the price drop from here and then reverse to tag retail traders out, so remain on your toes

GBP/JPY

Pound Yen is also on my watch, well at least it was, at the open we were a lot closed to the area of supply I was looking at for a potential short. Since then, the price has drasticallu dropped.

Just wanted to point this pair out, I’m keen on both a long and a short so whatever happens I’ll be keeping an eye out for this one

EUR/USD

I noticed the weekly on the DXY and the Euro yesterday, I have to say, it’s rather gorgeous! Well, in my eyes that is of course!

It’s rather good to see how the Euro is seen as being more and more valuable than the USD, I wonder if the euro will ever become the main currency? Would be rather good in my view.

Anyway, not here to talk about macro-economics and what’s driving this or its impact.

I am here looking at a potential supply area at 1.236. I’ll be looking for a potential short from that area if there’s something that suits my trading plan.

I highly recommend you guys check out the weekly chart tho.

Actually, I’ll be nice, here’s the daily (on top) and weekly chart (at the bottom) – see what I mean? Rather pretty if I may say so myself

That’s it for my watch for today

Daily book

Still reading about the rise of Sparta, I think my next book will be a psychology textbook, I find that subject rather interesting so might as well educate myself!

Daily tweet

Posted on

Friday 18th of December

Good morning folks! Hope you slept well and got a good head start to your day.

It’s time to start planning what we’re going to be working on next year. Send me through your plans I’d love to see them. I’ll start planning my year today, well, start mediating on that thought to really be clear and let my subconscious decide what it needs.

Anyway, I’m still short on my NZD/JPY initial position, this one isn’t going anywhere in a hurry apparently.

That being said, let’s dive into my watch?

FX Watchlist

GBP/CAD

While I did take several trades short on GBP/CAD earlier this month / late in November, I am also looking for a potential short now.

We ended up breaking the ascending trendline it had created for itself on the previous short, the weekly is stacked, hence I’m interested in a potential short.

The price action has been in this zone for a while now, however since the zone is rather big, I am okay with that, as long as the price heads higher than it currently has before giving me a script entry

GBP/JPY

Pound Yen is my second pair on watch for today, while it is currently forming a triple top, I am not interested in taking a short right now, instead I’d want it to break slightly higher, around to 141 before giving me a script entry.

If the price starts dropping form here, a lot of retail traders will be taking a short, so I wouldn’t be surprised to see the price move higher to 141 to give the institutions the liquidity they need to enter the market.

The weekly stack is rather gorgeous 🙂

That’s it for my watch 🙂

Daily Book

I have started the book Sparata: The Rise of a Warrior Nation, not the biggest fan, it focuses a bit too much on historical dates and tries to really balance what happened, which is interesting in itself, however I’m more looking into what and how they became Sparta if that makes any sense.

That being said, it’s slowly getting there, so I’ll just have to be a patient a few more hours 🙂

Daily Tweet

Posted on

Wednesday 16th of December

Good morning folks! Going to get this one done earlier than usual.

To update you on yesterday watch, I did take AUD/USD scale in – for a loss. So I am currently holding both original entries on AUD/USD and NZD/JPY.

There nothing on my watchlist for today, but I’ll share what I’m looking at for a potential trade towards the end of the week just in case?

FX Watchlist

AUD/NZD

Aussie Kiwi is a pair I’ll be eyeing up for a potential long from the area of demand around 1.055. If that area of demand fails, there’s another one a little lower

EUR/AUD

Euro Aussie is another pair I’m keeping an eye out for – we are slowly approaching a potential area of demand just below 1.6

That area of demand lead to the first push up – that ended up breaking a clear wedge formation and pushed the price nearly 20% higher – which is rather drastic in FX.

GBP/NZD

Pound Kiwi is also on my watchlist, for both a potential short and a potential long, it will depend on which zone is reached first 🙂 Simple as that

The short set-up has a gorgeous weekly stack, the long has a nice and clear monthly stack.

CAD/JPY

Yes, this isn’t in the alphabetical order – have to keep some element of surprise! Cad Yen is the last pair I’m being really careful for this week. There’s a potential area of demand where price could explode higher, it fits with an ascending phase line too.

However, it is also possible that we are still stuck within a sideways consolidation.

And as I write this, I realize there’s no weekly or monthly stack anyway. Oh well. I guess I won’t be trading it

That’s it for this week

Daily book

Book wise I’ve started the Monk who Sold his Ferrari, it’s quite a nice read, while they try to make the story real, it would be a lot more fascinating if it was the views from someone that actually existed. So I may read Jay Shetty (think like a monk) book next or Jesse Itzler (Living with monks)

It’s a good book, but I’m not jumping up and down about it

That being said, I’m starting to really enjoy Scribd.com

Daily tweet

Posted on

Wednesday 9th of December

Good morning folks, all my excuses if this is released after 9am, but wanted to make sure I was ready for my scalping.

Eheheh still managed to post it before 9am

My trading takes priority over this blog afterall, I don’t want to be a blogger, I am a trader.

No trade updates for today. So let’s dive straight into my watch?

FX Watchlist

AUD/CAD

Aussie Cad is a pair I’ll be watching for today. While it’s not the cleanest break of a trendline, to draw it we need to cut through its wick, which I’m not the biggest fan.

It remains quite clear, if the price pushes back up to the area of demand I have drawn, I’ll be looking for a potential short. That is due to the the fact we have a gorgeous weekly stack.

AUD/JPY

Aussie Yen is another pair I have on watch, this pair is probably my favorite for a short today, however, if any other pair that is on my watchlist gives me a trade entry I will execute it.

The price is currently pushing towards the area of demand, once that is reached I shall wait for a script entry to take it to the downside.

EUR/AUD

Euro Aussie is another pair on my watchlist, as you can probably notice, the Aussie is promising to move to the downside, so I’m quite keen on a potential long on EUR/AUD

This area of supply was created by the break of a descending trendline. The weekly stack is also obvious. All in all, if there’s a script entry that fits my rules, I shall take the trade to the upside with no hestation.

Daily Book:

Still reading the Unknown market wizards, rather enjoying it so taking my time instead of speed reading, if I can improve my competence as a trader by 2-3% by reading the book in detail, it’s worth it! If it gives me a new idea it will be worth it (even if it doesn’t improve my returns).

It’s always interesting to read books, reading about several different domains at the same time and mix matching the ideas is rather efficient in my view. Would recommend everyone to pick up several books on different subjects and read them at the same time.

For example the idea of supply and demand as a trader, was extremely well detailed in the book “Empire of Cotton” you could see how the supply being impacted changed the price and created new areas of supply etc etc

Daily Tweet

Posted on

Tuesday 8th of December

Good morning folks! Hope you all had a wonderful day.

I don’t have anything to say, lack of creativity or not really awake for now, so let’s jump straight into my watchlist

FX Watchlist

AUD/JPY

Yep, I’m still eyeing up aussie yen for a potential short, I’ve been talking about it for a while now.

Sitting on your hands waiting for the perfect pitch is all we do as traders, we just have to be patient and control ourselves

AUD/NZD

Aussie Kiwi is currently between two areas of supply / demand. I’m not interested in the short, there’s no higher time frame stack. I am however interested in the long. For it to have a weekly stack it will have to reach the blue line, so we’re still far away

GBP/CHF

Noticed GBP/CHF after posting my daily watchlist, I’m quite liking it.

The area of demand was created after the break of a long term trendline linking the high of December 13th to the 1st of September. It’s not the cleanest I’ll be the first to admit, however there was a strong push higher from that level, so it may be something.

The structure does look rather good too.

For me to take a long trade I’d need to see a double bottom and then a script entry

EUR/CAD

Once again, we are still quite far away from the zone, more a question of the rest of the week

I have a few other things on watch but nothing too pretty for today, so will just have to wait.

I am however still waiting for a potential scale in for my short on NZD/JPY position

Daily Book:

Started reading Unknown Market Wizards, quite enjoying it so far, but to be absolutely honest, I think there’s more to learn about trading from endurance sport than from trading books.

Daily Tweet:

Posted on

Friday 4th of December 2020

Morning folks, hope you’re well,

I’m starting a three day fast today. So if you don’t see a blog update on Monday you know why 😀

Anyway, let’s dive into my watchlist

FX Watchlist

AUD/JPY

Aussie Yen is a pair I have on my watch list, as mentioned yesterday we have a clear area of supply slightly above the current price, if that zone is reached I’ll be looking for a potential short set-up. I’m not expecting it to happen today, it’s more likely to happen Monday, but we might as well keep an eye on it!

The weekly stack is clear, there’s two different options to draw it from, both are valid in my eyes.

EUR/AUD

Euro Aussie long is another aussie play I’m interested in, once again I’d be looking to short the AUD, I don’t really care for that correlation, what I do like to is the fact that price has been trapped between two levels since June.

If the price goes back into the area of demand, I’d expect a push higher to reach the previous high, or at least 1.66

Once again, there’s a clear weekly stack, so I’m happy

USD/JPY

Dollar Yen is once again on watch, let’s see what happens this time. While this area of demand isn’t the best I’ve ever drawn, I believe it remains valid, if the price reaches it and fits my criteria to take a long I will.

I have adjusted the demand area to fit with the monthly stack

That’s it for my watch

Daily book:

Really enjoying the HBR guide to buying a small business. It’s rather fascinating all the things there’s to keep an eye on. Rather surprising how cheap they are sold at (around 3 to 5x EBITA)

Would recommend, could also be used for investing in micro caps if you’re not looking to buy an entire business or go into private equity.

Daily tweet

Hence why I’m looking at potential business investing.

Posted on

Thursday 3rd of December

Morning folks! I’m back!

Okay I didn’t end up taking yesterday off, well I didn’t backtest which is a first in a while… I just like trying to understand the charts and figuring out things to improve my results, it’s that simple.

Anyway, I took a trade yesterday…

Trade Update

NZD/JPY provided a short set-up yesterday. The reason I haven’t been talking about it is that the zone dates back to the 3rd of May 2019. I believe that’s rather far. There’s a weekly stack so I executed the trade no matter what.

The trade was taken once the counter zone was reached and a script entry provided. Looking back I’m starting to think the 4hour price action was rather slanted. Umph. I hate slanted price action leading to an entry.

Also, I probably should keep you guys updated on my GU and GC positions.

GBP/USD short was tagged out for -1R the price action more or less tagged me out by a pip before reversing. I’m fine with it tho. That was a good entry.

For GC that spike higher (was a tweet about Brexit talks that made it move) tagged me out for breakeven on my 1hour scale in position. I had moved my stop for that entry to breakeven due to the fact it reached 2% profit.

I’ve also slightly adjusted my 4hour scale in stop loss, it is now around 0.8R, I trailed it above the high it made once the low was broken

I would say, I am hoping for GBP/CAD drop, however if you find yourself hoping in this industry you’ve probably done something wrong.

That’s all for trade updates!

FX Trade Watchlist

AUD/JPY

Aussie Yen is going to be on my watchlist for today. The zone we have is a trend line break zone, that trend line had held for a long time so I believe it required quite a lot of strength to break it.

The weekly stack would require us to take two weeklys, something I’ve come to accepted after doing ym ASR on the USD/JPY position from last month. Otherwise there’s a weekly imbalance in April 2019 that would serve us as a stack. All in all. We good to take a short set-up!

EUR/AUD

Euro Aussie is the second pair I have on my watch, this time for a potential long set-up. We can clearly observe on the daily that we’ve been trading within a range since June, the upper limit being around 1.68 and the lower one 1.61.

We’ve recently seen the price break a descending trendline, we have two clear daily closes above it which enables us to create this area of demand.

There’s a weekly stack, I’ll be executing this long if the price reaches this area of demand and fulfills all my criteria.

Daily Book

I’ve gotten myself the Scribd.com trial. So far it’s rather good, annoying I can’t download the book in pdf and send it to my Kindle but that’d be a bit too much. Well, you can download documents, so if a book is uploaded as a document you could I guess…

Anyway, got started on HBR guide to buying a business by two Harvard Professors, it’s really interesting they do a good job breaking the subject down into smaller parts and addressing everything needed. Well, I’m around one quarter in the book so that’s not my final review.

That being said, I believe it’s a book I’ll keep enjoying, the idea behind it, entrepreneurship through acquisition (basically the PE model but on a smaller scale) is fascinating to me. You could have returns of 20% per year running a business that already has clients and has proved itself to be a enduringly profitable one.

It’s something I’m considering. It’ll be hard, you need to become a good CEO, make sure you can run the business, find investors to pay for your search and raise the capital etc

Daily tweet

That’s it from me today. Have a fantastic one folks!

Posted on

Tuesday 1st of December

Good morning folks! I’m already wearing a christmas jumper, I’ll admit.

But hey, this Christmas jumper made it to the top of the Gerkhin! So it must be business like, we’re good

No updates on my current trades, still holding all four. So waiting to see some clear bearish moves across the GBP.

Otherwise, I only have one pair on watch, so let’s jump straight into it.

FX Watch List

AUD/NZD

Australian dollar / Kiwi is a pair I’ll be eyeing up for today.

The chart I’ll be sharing is quite zoomed out since this zone was created back in April. Now I’ll be straight up with you, I can understand why someone would say that this counter zone isn’t valid. The area of supply that we broke wasn’t fresh by the time the trend line was broken.

That’s entirely fair.

However, the fact that we saw a triple top at that level that looked quite similar to an inversed H&S pattern makes me believe there was something there. That’s why I drew the zone.

The blue line you can see if the monthly stack I didn’t adjust the daily counter zone, however, I’ll only be interested in a potential long once that blue line is reached.

In terms of follow up on this watchlist:;

I am still looking to get positioned in a gold long trade set-up.

AUD/JPY is still moving sideways between two levels of interest, I’ve talked about it enough that I don’t think I need to break it down once again

USD/JPY remains quite far away from the supply area for the potential long

GBP/JPY remains far from the area of supply as well

Will dive more in depth if tomorrow requires me to do so!

Daily book

Starting to understand the importance of skipping parts of historical books, when they start throwing number after number it’s fine to skip, if those numbers will bring any real value you’ll have a clear breakdown about them either before or afterwards.

Learning to skip parts of books is something new, I usually just go head down and read the book – but this book about the Cotton Empire requires me to do things differently it’s so well researched.

Daily tweet

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