Friday 22nd of January

Good morning folks! I hope all is well! There’s a rule of thumb that says I need to catch your attention within 5 seconds to get you to read my blog post.

I got lucky.

Yep, I was lucky GBP/CHF came to within 3 pips to my stop loss twice over a 24 hour period, yet I am still in the trade.

Usually traders feel like we are always on the other end of that luck, that we are unlucky because the price action stopped us out before reversing. I just wanted to show that sometimes we get lucky to.

Well, I say lucky, the truth being – it may still tag me out for a loss, or reach my profit target, who knows.

We tend to only remember the bad times in trading while only remembering the good times we spent with friends (and tend to forget all those small fights we had). Let’s try to be neutral and remember everything, or at least realize that there’s positive moments and negative moments in everything we do.

The truth be told, I don’t think I’ll take a single trade today, a 4hour scale in on GBP/CHF being the only potential set-up.

I’ll still share my watchlist but it’s more for next week than today.

FX Watchlist

AUD/NZD

As mentioned yesterday Aussie Kiwi decided to drop before reaching the area of supply I had drawn in. The interesting point here is that if we close today around this level we’ll have created a new area of supply.

We’d then have two areas of supply just above the current price, which would make it extremely attractive.

Let’s wait and see.

NZD/JPY

Kiwi Yen is still moving closer to the area of supply that interests me. Let’s see if we reach it, if we do, I’ll be looking for a potential short set-up.

USD/CAD

Dollar Cad is also slowly moving toward ab area of interest, we saw a clear low test and we’re currently rejecting a triple bottom formation, so let’s see what happens, if the price goes lower and keeps forming lower highs and lower lows, or if there’s a trend change.

If a trend change would be to become apparent, we’d then be able to use yesterdays daily candle as an area of demand.

USD/CHF

Dollar Swiss is still approaching the double bottom, its definitely not getting there in a hurry so far, but let’s see what we get today and early next week.

USD/JPY

Dollar Yen is quite similar to the previous chart I posted we have a clear impulse lower, a correction, another impulse, we are now correcting. Let’s see if the following impulse lower reaches into the daily area of demand. If it does, we’ll have a nice double bottom.

That’s it for my watch.

Daily Book:

Still reading the autobiography of Andrew Carnegie and the Gospel of Wealth, I have to say it’s rather amazing, I’m only 20% through it, but already thinking of getting a physical copy and sending copies to all my close friends.

That’s what good books make me want to do, buy a copy and share them with friends πŸ™‚

It’s rather amazing to know he started working jobs that no longer exist at the bottom of the totem pol but still managed to get to where he did.

Using one of the quotes from the book – unsure who it is from for my daily tweet too!

Daily Tweet:

Thursday 21st of January 2021

Good morning folks! Hope all is well πŸ™‚

To keep you updated on my GBP/CHF position, the 1hour scale in was stopped out for -1R, I’m not too surprised, the price did reject the ascending trend line and the 50EMA. I took the trade to remain as mechanical as possible, in the future I may respect what the chart was telling me.

Anyway, enough talk πŸ™‚ Let’s have a look at my watch

FX Watchlist

AUD/NZD

Aussie Kiwi dropped before reaching the area of interest, that’s actually great for me, I wasn’t looking to take it as it was before due to how slanted it was – now that we saw some clear price action and a drop I’m rather keen – a clear double top would be gorgeous in my view.

EUR/CHF

Euro Swiss is still in the area of interest for me, the 50EMA has been respected so far however if we have a clear break higher I’ll still be interested for a trade to the downside.

NZD/JPY

Kiwi Yen is moving towards the supply zone, let’s wait and see what happens once it reaches it. For those wondering why I didn’t take the long, it’s because I couldn’t adapt the daily to fit with the weekly zone. I may have been a bit too strict.

Between GBP/CHF 1 h scale in and NZD/CAD I think I was relying a bit too much on my rules, I didn’t allow myself any discretion. It may be something worth looking into.

USD/CAD

Dollar Cad is starting to approach the area of demand – we’ll see what happens πŸ™‚

USD/JPY

Dollar Yen is also approaching the area of demand, we’ll see πŸ™‚

Tuesday 19th of January 2021

Good morning folks!

To keep you fellow updated I took a 1hour scale in on GBP/CHF yesterday. While I wasn’t the biggest fan of where it had rejected (ascending trendline and 4 hour 50 EMA)

Let’s see what happens.

Anyway, enough talk, let’s look into the really interesting stuff – my watchlist πŸ™‚

FX Watchlist

AUD/NZD

Aussie Kiwi is approaching it’s area of supply so I’m keeping my eyes on it πŸ™‚

EUR/CHF

Euro Swiss looks like it has decided to move back to retest its area of supply, let’s see if it truly does, and if so if we get a script entry for more downside.

USD/JPY

Dollar Yen is mainly moving sideways but remains quite close to a zone of demand so I’ll be watching how it develops

That’s it for my watch today!

Daily Book:

I’ve just started reading Gucci Mane Guid To Greatness, I’m not a fan of his music but can’t disagree with a man that turned his life around from being fat, in prison to a multi millionaire, fit and a symbol of success to people that like trap.

Daily Tweet

It’s fitting to use his pinned tweet then?

Monday 18th of January

Good morning folks, hope all is well! Had a really nice chat with a mate / fellow trader last night so I’m full of energy, well, maybe it’s because I woke up late today…

Anyway enough talk πŸ™‚ Let’s jump straight into what interest you. Oh and fair warning, most of the set-ups won’t happen today or tomorrow, it’s likely that we’ll see a rather slow start to the week.

FX Watchlist

AUD/NZD

Aussie Kiwi is approaching an area of supply, however it is doing so in an rather slanted manner. Hopefully we’ll see a clear move higher, a rejection and a scrip entry,.

EUR/CHF

Euro Swiss is another pair on my watchlist that’s still quite far away from an area of interest. That being said, I am looking for both long and shorts, if the price is to pull back and retest the trendline – the I’ll be looking for a potential short within the area of supply. If the price keeps dropping I’ll then switch my focus to a potential long.

USD/JPY

Dollar Yen is a pair I’ll be looking to buy if a double bottom is formed – we still haven’t broken out of the larger descending trendline we did break a more recent one / a smaller one.

There’s no weekly stack, however we have a nice monthly so I’ll be able to execute it if a script entry is given to me.

That’s it in terms of pairs that could give an entry in the next few days I believe, let’s wait and remain patient πŸ™‚

Daily Book:

Currently reading Discipline is equal to Freedom by Jocko Willink, I’m not sure I’ll finish it, rather just bashing over and over the fact that you’re the only person responsible for it.

Daily tweet:

Wednesday 13th of January 2021

Good morning folks! Hope all is well on your side.

Figured I should update you on my GBP/JPY position dating back late December, it’s now closed for a -1R. That made my Q4 a negative quarter, at -0.6%, glad I managed to cut losses short that quarter was rough.

Enough talk about the past, let’s look forward!

Oh and before we do that, I forgot, I created a position size calculator for FX on google sheets since the one I used turned into a paying one.
It was cheap, but I wanted to use my brain and create a new one… Anyway, here’s the link:

https://docs.google.com/spreadsheets/d/1xd_SbaxSLtvi0KCTXwUJ0-QCKg9ftLZed8YJqGFuWnM/edit?usp=sharing

You just have to create a copy of it and it’s yours

FX Watchlist

GBP/CHF

Pound Swiss is getting closer to the area of supply – waiting to see a potential reversal once we reach it. The weekly stack is rather gorgeous and it is approaching the previous high that showed several rejections back in 2020

EUR/USD

Euro Dollar is starting to move back higher to reach an area of supply, that area of supply broke an ascending trendline, so definitely quite keen on it.

The monthly / weekly chart looks rather gorgeous, keeping my eyes out.

USD/JPY

Dollar Yen recently broke above a phase line, if we see a double bottom – I’ll be looking to take a potential long set-up. There’s no clear weekly stack, however there’s a monthly stack I’d be willing to use, so all is well πŸ™‚

Let’s wait and see

Daily Tweet

Tuesday 12th of January 2021

Good morning folks! Hope all is well, if you folks have been keeping your eyes out, daily zones have been working out recently which is always nice, let’s remain patient! We have an edge, but the consistency in our expected returns comes from being patient.

FX Watchlist

AUD/JPY

Aussie Yen is potentially forming a double top formation, if we see the price reach the previous high and give us a script entry to the downside I’ll be looking to position myself short.

EUR/AUD

Euro Aussie is also forming a potential double bottom formation retesting a clear area of demand. If we reach the previous lows.

GBP/CHF

Pound Swiss was on watch last week, or two weeks ago, we are now approaching (once again) the area of supply, let’s see if we reach it.

Daily Book

A Girl in Moscow is the book I’m currently reading, rather enjoying seeing how applicable things still are, humanity still hasn’t really changed since the late 50s.

Just realized that doing a google research of that name didn’t bring the book up, I may have the title wrong… Oh well..

I definitely recommend reading old books, it’s fantastic to see her being in a jet plane and being so excited about it, talking about the first Sputnick etc etc.

Daily Tweet

Monday 11th of January

Good morning folks! Hope you’re well.

Turns out, I was sleeping when EUR/AUD presented a potential long entry at 3am. Looking back that’s not a problem, the stop size was 112 pips which is too big for me (I limit myself to 100 pips except on EN and GBP pairs).

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

FX Watchlist

EUR/AUD

While Euro Aussie may have presented a valid entry for some, it’s not valid for me so I’ll still be looking to get into a long position if that is possible. For me to do so, we’ll need to see a clear double bottom formation and another script entry.

It’s possible that we shall see exactly that but I also wouldn’t be too surprised if the price decided to fly higher now that we reached this zone.

It’s always a shame to see a trade that nearly fits your plan take off without you, but sticking to your own guns is the way to go,

AUD/JPY

Aussie Yen is another one that is currently “dropping” from an area of interest that I have highlighted many times, this pair didn’t give me a script entry tho. There’s no reason for me to be in this position as of now.

That being said, if AUD/JPY goes back to it’s recent high and forms a clear double top… I’ll be keen to see what happens πŸ™‚

That’s it for today!

Daily book:

Just finished reading Arsene Lupin once again as a more “chill” book, currently reading a book written in the 60s about an American that’s living in Moscow – thought it should be rather interesting, I forgot the name of the book sorry!

I previously mentioned I was going to read Elements of Style to improve my writing, but hot damn, it’s rather dry and definitely reads more like a text book than anything enjoyable.

Daily tweet:

Friday 8th of January

Good morning folks! I hope you’re well and enjoying a freshly brewed cup of coffee!

I’ll admit, went to see a few friends on Wednesday, and discovered that coffee shops were open (to take away) in that city, just not my town, so I was rather happy πŸ™‚

So life is good? Getting closer to the date coffee shops will open back up!

Anyway, enough talk, let’s jump into my FX Watchlist

FX Watchlist

AUD/JPY

Aussie Yen as mentioned yesterday is within the zone, it’s actually spent over 24 hours in the zone, so that’s a big minus on my side of things, however since we are so clearly higher than were we saw some consolidation I’m okay with it.

That being said, I’ll want to see a clear entry either at 3pm or 7pm – if we don’t get an entry by then I won’t act on the opportunity if one presents itself later on.

EUR/AUD

Euro Aussie on the other hand just reached the area of interest so I’ll be looking to position myself in a long as soon as an opportunity that fits my trading plan shows itself.

Nothing is guaranteed, it may just keep dropping, in which case we’ll have a nice new counter zone and we’ll be approaching another area of interest.

That’s it for today. No trades taken this week, a lot of opportunity shaping up in the market, we just have to remain patient and wait for them.

Daily Book

Still reading a book that’s mainly composed of interviews, I think it’ll be more interesting to listening to them rather than reading them so I’ll jump ship and start a new book today. I’ll be reading @The Elements of Style by William Strunk, it’s apparently the bible for better writing.

I think writing is a skill that everyone should develop, one at which I’m not that great either, so… Going to take a few notes πŸ™‚

Daily Tweet

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

Tuesday 5th of January 2021

Good morning folks! Feels strange to be back at it I’ll admit, it was nice to be on holidays πŸ˜€

Lets dive straight into it?

FX Watchlist

AUD/USD

Aussie Dollar remains on my watchlist for this week, we’re not any closer to the area of supply than we were yesterday, we’re seeing some deceleration, either the bulls are accumulating their positions and want to have their orders entered at this price, or there’s an exchange between bulls and bears taking place.

In either way, I’ll wait and see if my zone is reached and if there’s an entry that fits my trading plan.

EUR/USD

Might as well mention euro dollar since I just talked about AUD/USD, this pair is in a similar situation, we’ve been going sideways for a few days now and are waiting for our area of supply to be reached before looking to take a position.

I really do like this chart, but it doesn’t mean it will give us an entry, we may just have to sit on the sidelines when it drops, or see it explode higher. Nothing is a certain thing in this market.

NZD/CAD

Kiwi Cad is also approaching the area of supply while also forming a double top on the 4hour chart in a nice U shape. I no longer trade market structure, but I know it has an edge when applied in the correct zones.

Will be interesting to see what happens, but for now, we just have to wait.

Those are my 3 favorite pairs for today πŸ™‚ I have others on watch but they all require more development before offering anything.

GBP/JPY will also be on watch for a potential 4hour scale in.