To keep you updated I’ve moved my stop to BE on EUR/NZD, let’s see if it makes the last 1% to reach the profit target.
Enough talk anyway 🙂 Let’s dive in
FX Watchlist
EUR/USD
I’ll be looking for a potential long on euro dollar for a counter zone play, we have a clear monthly stack there that I’m happy with
GBP/CHF
I’ve got pound swiss for a potential short for this week – you could quite easily have drawn a larger zone and already taken a trade so it’s worth keeping on your watch
GBP/JPY
Pound Yen is quite interesting we’re currently forming a double top on the daily and have a clear retest of a trend line break. We’ve reached the zone and formed a little U shape on the 4hour so let’s wait and see what happens.
There’s also a clear weekly stack that I’ll be happy to use 🙂
NZD/CHF
Kiwi Swiss is also interesting & worth eyeing up 🙂 This trendline break is a little iffier but remains valid in my eyes.
Good morning folks, I hope you enjoyed your weekend! Had a blast, drove down to visit my sister and nephew, made for some nice runs and a nice drive in the mountains 🙂
Anyway, let’s start with the bad news?
I don’t really have much on my watchlist for today. Yep, still no trades for the month. It’s been a very quiet one.
FX Watchlist
CAD/JPY
Canadian Yen is on my watch for this week but not for a long, I’m mainly interested in a short from the area above the current high.
Let’s see if we reach it (I’m not interested to the long due to the lack of a higher timeframe stack)
EUR/JPY
Euro Yen is also on my watchlist but this is also for a potential short, however the price is moving lower at the moment so we’ll have to see
GBP/USD
Pound Dollar is also on my watch for this week, well, it’s been on my watch for the last three weeks now you’ll say and you’d be correct.
That’s it for my short term watchlist folks
If you don't see any interesting trade, don't look harder.
Good morning folks, hope you’re well, starting to feel rather tired and ill probably just a lack of spending time with friends to be entirely honest.
Let’s talk about our watchlist 🙂
FX Watchlist
AUD/CHF
Aussie Swiss remains on my watchlist, there’s some clear potential it’s currently in an ascending channel which is rather nice.
GBP/JPY
Pound Yen is an interesting solution, we’d see at 146 a strong level of supply.
GBP/USD
Pound Dollar is also quite interesting for a potential counter zone.
USD/CAD
Dollar Cad is forming a clear double bottom – it’s quite interesting.
Daily Book
Still reading Laws of Human Nature – still enjoying it – going to leave you with a quote about the importance of waiting before acting:
“To Chinese Strategists, wu-wei, or nonaction, is often the height of wisdom and aggressive action a sign of stupidity because it narrows one’s option”
Good morning folks! Hope you’re all well! Ready to have an amazing day!
Let’s start with updating you on CAD/CHF
Trade Update:
CAD/CHF I am still running the original position, however my 4hour scale in got tagged out for 1% profit on the correction. I’m happy with the 1% I followed my trading plan so there’s no problem there for me.
AUD/NZD I am still holding my Aussie Kiwi long position:
New Positions:
EUR/NZD I took two trades in Euro Kiwi yesterday.
My first entry was a clear script entry after a clear double bottom pattern as mentioned on my watch, quickly followed by a 1hour scale in.
Here’s a cleaner picture of the scale in:
Anyway, enough talking, let’s have a look at my watchlist for today!
FX Watchlist
AUD/CHF
Aussie Swiss will be on my main watchlist for the rest of the week. We haven’t seen anything that would have me over excited for a trade today, so I’ll just wait and see what we get 🙂
There is a weekly stack, however, we are forced to combine 2 weekly imbalances in order to be able to trade it. That is something I have decided to add to my trading plan so it’s still good.
GBP/USD
Pound Dollar is the second pair I’ll be eyeing up for a potential short play for the rest of the week, I like how it’s pushing towards a zone we haven’t reached since mid April 2018, we are approaching some rather old levels 🙂
There’s no weekly stack, that being said the monthly is giving us a tweezer top there with a gorgeous stack so I’ll be happy to trade it to the downside.
USD/CAD
Dollar Canadian is a rather interesting one, we are currently rejecting the larger descending trendline, it’s a rather picure perfect rejection too, however we did create a wedge pattern that lead to a bullish move, the imbalance that was created was the low.
If USDCAD keep droppings and reaches that imbalance, we’d actually see a rather clean double bottom /arc formation for a potential long buy to break this descending trend line.
We’ll have to wait for a script to occur to take this long but it could be an interesting play!
Good morning folks, sorry this will come out late, but I’m on third day of fasting so I allowed myself to wake up later and my energy is rather low at the moment as you can probably imagine.
Trade Update
I am out of GBP/JPY original and hourly scale in for -2R total.
I am also out of CAD/JPY for -1R
I am still in CADCHF long 4hour original and 4hour scale in
I am still in AUD/NZD long, I did not take the 1hour scale in since it had barely moved away from the 50EMA. I preferred not to increase my risk exposure
I am still in EUR/CHF short – I didn’t take a 1hour scale in due to margin limits.
I missed NZD/JPY short opportunity – I had disregarded it due to the fact it had spent so long in the zone and removed it form my watchlist. However it had a clear impulse higher before forming the trade entry which was valid in my book.
This is what the position should’ve looked like:
I am however looking to enter in this position through a 1h scale in order (at the low of the current candle)
Anyway enough talking about the past – let’s lookg at my watchlist
FX Watchlist
EUR/GBP
Euro Pound is a pair on my watch for two reasons, it’s been moving lower for an extremely long time without any pul backs and we are approaching an interesting weekly area.
However, the daily zone isn’t clear we did not break either a counterzone nor a trend line – instead we broke a structure zone (clear wedge / consolidation pattern)
That does lead to question whenever or not it is valid.
I believe everyone will have to make their mind up about that one on their own – but while talking about the negative side of things I really don’t like taking trades where there’s been so many small candles in a row – I noticed in my backtesting the strike rate wasn’t that good. I didn’t track it but it was an evidence that came to me.
GBP/JPY
While I was taken out of my original two positions in GBP/JPY (I have no regret taking them, both were valid and according to my trading plan) we are now approaching another zone of interest.
That being said, the exact same case can be made for GBP/JPY as it was made for EUR/GBP this zone did not break a clear trendline or a zone (the counterzone is where I took my two entries). Instead it just broke a structure line from a consolidation / correction pattern.
Knowing that my brain capability wasn’t really in the normal range yesterday I didn’t read much so not going to be sharing a quote from the Laws of Human Nature today
Daily Tweet:
In the market, discipline is golden and impulsivity disastrous.
Good morning folks! Busy freaking few days eh. Took more trades since Friday than in the entire month of December!
In addition to the trades mentioned yesterday I was also able to take scale in positions. I’ll update you all once everything is closed out, it will be easier 🙂
All in all, rather interesting times, where for the first time in a while I’ve been forced to size down due to the available margin at my disposition. All in all there’s 6 trades, my mind is blown away I’ll admit.
Anyway, enough talk, let’s have a look at my watchlist?
FX Watchlist.
AUD/NZD
Aussie Kiwi dropped like a stone in the past few days and we have now reached an area of demand, it was created as a counter zone. There’s another area of demand a little lower but I’ll be executing an entry if a script presents itself.
It has a rather gorgeous weekly stack
EUR/NZD
Euro Kiwi is the second pair I have on watch for a potential trade today, a long as well and it also has a rather gorgeous weekly stack.
All in all, let’s wait and see what happens
Daily Book
Still reading Laws of Human Nature – here’s a quote about the fact that the world is only made up of our perception of it – if we change our mindset the world can become a nicer place
Robert Greene Laws of Human Nature
The world simply exists as it is – things or events are not good or bad, right or wrong, ugly or beautiful. It is we with our particular perspectives who add color to or subtract it from things and people,
Daily Tweet
Yet another Thread 😀
Introducing “Superpowers” – the underlying skills that help you succeed at anything
I spent nearly 6 months building this list and almost wrote a book on the subject
Instead, I’ve condensed that work into a pithy (and punchy) Twitter thread
Good morning folks! Let me start off by saying I’m freezing my butt off today while writing this blog post. Must’ve had a problem with the heating in my office 😥
Lovely sunrise tho, I hope everyone takes the time to look at it & at the sunset on a daily basis!
Anyway, enough talk, I need to get warmed up, so let’s dive straight into my watchlist?
FX Watchlist
CAD/CHF
Cad Swiss remains on my watchlist for a potential long set-up, I believe we saw a clear break of a descending channel which then created a area of demand.
Let’s see how / what happens once we reach this zone.
NZD/JPY
Kiwi Yen is also on my watch as mentioned Friday and Monday – I’ll be keeping my eyes on for a potential short once the area of supply is reached, if that happens.
USD/JPY
Dollar Yen is the third pair I’ll be eyeing up for the next few days, while I have more pairs on watch I believe these three at some of the cleanest.
Daily Book:
Finished reading the autobiography of Andrew Carnegie – well still going through the gospel of wealth now.
I’ve found it extremely interesting for anyone that has aspirations to running a business, dealing with banks, dealing with workmen, the stock market, growth, investments etc
All in all, I’d give it 5 stars, been a while since I really enjoyed a book, but I really did with this autobiography, rather surprising.
Daily Tweet:
I think that success takes a lot more than plain accuracy and pure results. It takes grit and it takes determination to maintain your resolve through frequent and relentless ass beatings.
Good morning folks, I hope you all had a fantastic weekend!
Let’s jump straight into my watchlist? Since there’s quite a lot of charts I want to share I won’t go into their details, I’ll just share the chart.
FX Watchlist
AUD/NZD
CAD/CHF
GBP/JPY
NZD/JPY
USD/CHF
USD/JPY
Those pairs are the main ones on my watch, however I have an additional 6 pairs on my “wait for X” watchlist, it looks like this week could a good one.
Daily Book
Still Reading Andrew Carnegie autobiography and the gospel of wealth, I am really enjoying it, I think it’s one, if not the best autobiography I’ve read with a lot of nuggets of wisdom.
Most of the downvotes are based on his philosophy or the gospel of wealth, which I still haven’t reached, people are too focused on that.
Good morning folks! Hope all is well, you just have to keep going 🙂
While I’ll be the first to admit the hours of backtesting I’ve done so far this month is exponentially less than usual, I believe it’s time for me to put my head down and get back into the game.
I have to keep working today for tomorrow – as we all do. While my current strategy is fixed I would benefit from having several uncorrelated strategies.
Anyway, enough talk, let’s dive into my FX Watchlist.
FX Watchlist
AUD/NZD
Aussie Kiwi has spent the last 24hours just below the area of supply that I’m so interested in. It appears likely that we’ll see it reach it today.
That being said, I do not like slanted price action leading to a reversal, I know the strike rate isn’t that good. I’ll want to see something more before pulling the trigger (either a clear move higher then a reversal – or a double top).
EUR/CHF
Euro Swiss is moving towards an area of demand – in the past the 4hour 50EMA has been well respected so it’ll be interesting to see if a break happens. If it does I’ll then wait for the price to reach the area of demand before looking to take a short.
USD/JPY
Dollar Yen has been moving sideways for the entire week, it remains on my watchlist, however I am unsure if we’ll see a move lower of a break of the larger descending trendline.
USD/CHF
Dollar Swiss broke above a descending trendline two weeks ago, since then we’ve been waiting to see if the price would pull back to form a double bottom. If a double bottom is made, I’ll then look to take a long position.
Daily Book:
Finished Reading Gucci Mane’s guide to greatness. It was quite good – good advice all around. Maybe too many photos of him, that would be the only drawback of this book.
Before we dive into our daily watchlist, I figured I probably should update you with my GBPCHF trade that I took yesterday from our watch.
A short entry presented itself within the area of supply so I executed it. I’m happy with it, it fits my trading plan and is classified as a V entry. Let’s see how it plays out.
I shall be looking to take a 1hour scale in and 4hour scale over the next few days.
FX Watchlist
GBP/JPY
Pound Yen is a currency pair I’ll keep my eyes on for the next week or two – we are now in the middle between two areas of interest, one for a long position (a counter zone that was created with yesterday’s push higher) and a short position that was created back in Feb. 2020.
The price has a 300 pip range before reaching one of the areas I am interested in, that type of volatility can easily be done in a day or two, it’ll be worth keeping our eyes out.
AUD/NZD
Aussie Kiwi is also approaching a clear area of interest – slowly but surely, we only have to wait. The area of supply was created by a counter zone back in October, so let’s see what happens once we reach it.
I have included AN to my watchlist only because I haven’t mentioned it recently, I doubt an entry will present itself today or tomorrow.
USD/CHF
Dollar Swiss is a pair I’ll be looking for a potential long once the recent low is retested, while it’s not the prettiest trend line break, and therefore not the cleanest area of demand, I believe this one does exist.
I shall be looking to take a position once we have a clear double bottom and an entry signal.
Daily Tweet
Something worth considering:
"If you're not getting the results you want, change what you're doing." "But isn't that what people do?" "Not at all, they do more of the same. They spend more time. They try harder. They double-down on whatever it is they are already doing."
Bullish on Coffee - a Forex Trader Blog 