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!

Monday 19th of April

Good morning folks! Hope you had a lovely weekend!

Will be a short one for today, no point sharing all the pairs I’m eyeing up for the week and then just repeating myself over and over – might as well spice up the daily post πŸ™‚

FX Watchlist

AUD/CHF

As mentioned Friday we reached the area of supply I was looking at for a potential short, however I was waiting to see if we got a double top formation – if we did I’d be okay taking a short from there.

That being said, it needs to happen today, otherwise I’ll take it off my watch and say that the zone is compromised.

EURNZD

Will be eyeing up the potential long once we reach the area of demand, it’s quite interesting since we’ve made a clear double bottom, there’ll be liquidity below it, so let’s wait and see if the lows get manipulated πŸ™‚

NZD/JPY

We can say the absolute same for Kiwi Yen with the clear double top close to an area of supply – let’s see what happens, if we get a push above that’d be quite good – would show there’s clear potential liquidity for a reversal there

Saw a really nice tweet yesterday from Nassim Taleb so thought I’d shar eit

Wednesday 31st of March

Good morning folks! I hope you’re well!

I have to update you, sadly USD/CHF reached my stop loss. As I mentioned back when I took it – it wasn’t a valid trade according to my trading plan but I decided to keep the position due to a gut feeling – could’ve been greed but I’m happy I allowed myself some wiggle room.

But that’s the only trade that’s close, I am still short on AUD/NZD and EUR/NZD

FX Watchlist

EUR/USD

Euro Dollar is on my watchlist for a potential long, the price action isn’t gorgeous, it’s rather slow at the moment, but I guess we’ll see πŸ™‚

GBP/JPY

Pound Yen is also on my watchlist, the only problem I have with it is that it’s rather ascending and slanted. It could be a valid short tho so it’s worth keeping an eye out!

USD/JPY

Dollar Yen is also worth watching, we are approaching an area of supply so let’s see what happens, let’s be patient πŸ™‚

Wishing you to have a good week πŸ™‚

Friday 26th of March

Good morning folks! I hope you’re well!

Still holding AUD/NZD and EUR/NZD short let’s wait and see what happens!

Anyway, enough said, let’s dive into my watchlist!

FX Watchlist

EUR/JPY

I’ll be looking for a potential long but before we reach the area I’m interested by we’ll have to break the ascending trendline

EUR/USD

Will be looking for a potential long if the price goes a little lower

USD/CHF

Dollar Swiss is looking for a potential reversal, let’s see if we get a script entry

Thursday 25th of March

Good morning folks! I hope you’re well!

Big updates knowing I took AUD/NZD on Tuesday night but I’ve also added EUR/NZD short yesterday.

FX Trade Update

I took EUR/NZD for a short play due to the counter zone. There was a lot of momentum towards it so it came a bit as a surprise, but we had that zone for quite a while, so it’s valid according to my rules!

Let’s hope the Kiwi Dollar will gain a lot of strength to push those two pairs lower πŸ™‚

FX Watchlist

EUR/JPY

I’m looking at EUR/JPY for a potential long if we break this descending trend line, however, with a clear break we’d see the creation of a new area of supply.

GBP/USD

Pound Dollar is also quite interesting to me, since we are currently in an area of demand, however, we did also recently break an ascending trend line.

It’s now been 24hours in this zone so I won’t be taking it, but I want to know how it goes

USD/CHF

Dollar Swiss is interesting, we are approaching an area of supply, let’s see what happens πŸ™‚

That’s it for today, back to FXDreema and some work πŸ™‚

Friday 26th of February 2021

Good morning folks! I’m in a good mood! Three trades running all three in profits way to go.

Actually not even, AUD/NZD reached its profit target this morning as I’m writing this.

A little Ad for @NewCapitalFX :

“I didn’t need to have my cup of coffee this morning to get my heart started, I didn’t need to masturbate either – all that because AUD/NZD reached my profit target overnight thanks to New Capital FX

-Max Sydney 2021

(Only half joking, I do trade the New Capital style)

Trade Update:

AUD/NZD

Aussie Kiwi reached my TP, only slightly problem is that I miss sized the trade around 0.7% not 1% sadly, but can’t complain πŸ™‚

Yesterday I executed two trades:

EUR/AUD Long:

I was able to execute a long on Euro Aussie yesterday – it moved nicely so my stop is now at break-even – I’m happy, let’s hope we see it reach out profit target before the weekend, that’d be amazing.

CAD/JPY Short

I took a short on Canadian Yen yesterday as well, it was a pretty entry, no problem there, let’s see what happens πŸ™‚

However, while I’m happy with how I executed those trades, I’m also aware that I missed two potential trades.

EUR/JPY

Euro Yen also provided a script entry at 11pm last night – sadly I was asleep – I’ll admit I didn’t expect it to be a script entry since last I checked was at 7pm (the previous 4hour close) and we were quite a fair amount above the area.

CAD/CHF

Canadian Swiss also provided a potential entry – I’ll be straight forward, I didn’t even look at it, we spent so much time outside of the area I had entirely discounted it.

We also saw one additional entry – however it didn’t fit our trading plan.

USD/CAD formed a clear script entry and clear rejection of an area of demand however the stop loss would’ve been above 100 pips so I didn’t execute.

All in all, this month as been insanely active, we have to love it.

FX Watchlist

USD/SGD

Dollar to Singapore is the only pair I have on watch for today we are moving back up to the area of supply we created after we broke an ascending channel / correction pattern on the daily.

Let’s remain vigilant.

I am looking to take a scale in on EUR/AUD and CAD/JPY

Monday 22nd of February 2021

Good morning folks! Hope you’re well and enjoyed your weekend!

Just to let you guys know, I wrote a blog post this month to celebrate six months of consistent work to bring you my watchlist every morning

You can find it here πŸ™‚ I talk about goal setting, actions, habits etc

On that note, enough talking, let’s jump into my watchlist

FX Watchlist

AUD/NZD

Aussie Kiwi remains on my watch, as per last week, nothing really changed, we’re currently consolidating below the area of supply so it’ll be interesting to see how it plays out.

Will this consolidation give it enough strength to break our two areas of supply or will we get an entry short?

The monthly stack remains gorgeous so I’ll be happy to execute

CAD/JPY

Canadian Dollar Yen is approaching the area of supply that led to a huge drop back in February last year, I’m guessing this area meant something or was the result of quite strong catalyst, so let’s see what institutions do once we reach that level

There’s both weekly and monthly supply as well so I’ll be executing a trade short if we get an entry.

EUR/AUD

Euro Aussie is on my watch for today, actually it’s even on my watch for the next four hour close, I’ll be taking a long if it closes as a script entry (which it currently is giving, but I have to wait for the close to execute)

The zone was quite an old one, however it’s valid, the fact that price went so far down in the zone means we now get a monthly stack, we don’t even have to worry about the weekly stack that wasn’t the prettiest thing ever πŸ™‚

NZD/JPY

I’m keeping my eyes out on Kiwi Yen but I have to say, I’m not the biggest fan of this area, while I see why I have it drawn on my chart from my backtest sessions it’s not the cleanest area.

I’ll be more careful with this one, but the weekly stack is rather gorgeous πŸ™‚

USD/CAD

While the current area of demand isn’t fresh anymore for USD/CAD the area below it remains on my watchlist so I’ll wait and see what / how happens.

If the price is pushed down from here, we could see quite a few stop orders being reached to create some liquidity for a larger push from the other area of demand.

Once again, it has a clear weekly stack.

That’s it for my watchlist, at least it is for today, let’s be patient and only act on the best opportunities we get πŸ™‚

Daily Book

In terms of reading, I’ve started reading the book “The Legend of the Death Race Conquering Life with Courage, Power and Wisdom”

I quite like how applicable endurance sports are to businesses and working on something of your own. The mental game is the same.

Got interested in this book after watching this podcast

Friday 19th of February

Good morning folks, I hope all is well!

Unsure if I said it here yet, but since I share more or less everything here, I’ll be traveling to Naples from the 28th of February till the 11th of March.

I’m thinking of taking that period for self reflection so I may not update you guys on my watchlist as frequently as I currently am. No promises!

If you have any recommendations for Naples (and around there) please do drop me a message on Instagram! @max_sydney_

Anyway, enough talk.

FX Watchlist

AUD/CHF

Aussie Swiss remains on my watchlist, while we nearly had a script entry yesterday (it closed as an imbalance but up until 5s before the close it was a script) I didn’t execute it.

I’ve been waiting to take a double top entry or anything really in this zone. It’ll be interesting to see what happens.

We can’t really deny that there’s an area of supply here, however the market isn’t overextended or at a clear reversal area. Time will tell.

AUD/NZD

Aussie Kiwi remains slightly below the area of supply that has my interest, we’ll see if we reach that level today or next week. It’ll be interesting to see what happens next!

EUR/AUD

Euro Aussie is also approaching its area of demand, (inversed compared to Aussie Swiss for instance) so that’s definitely worth keeping a watch on.

The zone itself is quite old, so it’ll be interesting to see if institutions still have orders about this level. If they do, we’ll see the price reverse from this descending trend soon.

This bearish trend has been rather enjoyable I believe for everyone that was short πŸ™‚

GBP/JPY

Pound Yen remains on my watch, the area in which it currently is isn’t valid, however I do not seem to be able to take it off my watchlist. I guess that’s what rules are for, to break them when we feel like it πŸ™‚

I haven’t coded this strategy into an algo on purpose to keep this human element, so I’ll keep doing that. If an entry opportunity shows itself I’ll execute a short.

GBP/USD

Pound Dollar is also on my watchlist, I’m interested in a potential short from this level. It’s not the cleanest area, however it’s valid so I’ll be keeping it close to me.

The main problem, is that we’ve currently spent 16 hours going sideways, I have a limit of 24hours, so let’s see if we get an entry before that point.

Hope you folks enjoyed this!

Have a gorgeous Friday

Thursday 18th of February 2021

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

To update you, AUD/NZD Reached my profit target so I am now looking for a potential short.

I have to say, it’s rather nice to have a trade that reaches my profit target, it had been a while!

I am still holding CADCHF and EURNZD (No longer in scales ins, was out for BE on the two of them)

Daily Watch

AUD/CHF

Aussie Swiss is on top of my watchlist for this morning, we have now reached the area of supply with its weekly stack. I’ll be taking a short if we have a script entry.

I believe we may have one at the next 4hour close.

AUD/NZD

As mentioned previously, now that I am no longer in my long position I’ll be looking to short Aussie Kiwi since we are also approaching an area of supply

We’ve also got a clear weekly stack on this pair, so I’ll be ready to execute.

EUR/AUD

Euro Aussie is also approaching an area of demand for a potential long. On this pair the weekly stack is less obvious so I am attaching a chart for the weekly and 4hour, if I was to attack the daily it’d be too far back for us to see it clearly anyway.

GBP/JPY

Pound Yen remains within the area of supply and so far we haven’t gotten a script entry – for me to enter in a position on this pair I’ll want to wait for the price to make a new high in order to reach more orders.

GBP/USD

Pound Dollar remains on my watchlist – it reached the area of supply yesterday but we may see a double top on the 4hour which would enable me to take a short position.

Let’s wait and see what we get.

USD/SGD

Dollar Singapore is still on my watch, it’s not the nicest trade I’ve ever seen but it remains valid in my eyes πŸ™‚ Let’s be patient.

Daily Book:

I’ve finished reading King David’s Spaceship, was quite an enjoyable science fiction read, brought up some good questions, back to reading Think and Grow Rich, well once I’ve gone through all my notes from Laws of Human Nature… That will take a time.

Wednesday 17th of February

Good morning folks, hope all is well with you!

Let’s jump straight into my daily watch?

FX Watchlist

AUD/CHF

Aussie Swiss is approaching an area of interest for me but as mentioned previously it’s taking its time to get there, we are in no rush πŸ™‚

GBP/JPY

Figured I might as well mention GBP/JPY. This zone is actually not valid per my rules since there’s 6 imbalances however, the area and value is so obvious to me I’ll be keeping my eyes out on this pair for the next while to see what happens

GBP/USD

Pound Dollar started to move lower once it reached the area of supply, so I’m currently waiting to see if it will give us a double top formation to enter a short position. If it doesn’t give us an entry that’s okay, the zone played out at least.

USD/CAD

We had a clear move higher from the area of demand on USD/CAD as I had expected, I’m just waiting to see if we get a double bottom formation or not.

Quite sad about this one, the second bullish imbalance from the zone was a script entry up to the last 10seconds of the candle. It didn’t close as one tho so I didn’t execute my long position.

USD/SGD

Dollar yen is on my watch for a potential short opportunity, we saw a clear break of a structure line and we are currently moving to retest it, if we do and have a clear script entry I’ll look for a short

That’s it for my watch!

Have a great one folks.

P.S. Been working on developing two new strategies for the last few weeks so that why I don’t spend as much time talking about the set-ups here.