Updates: Week Ending February 6, 2026
January was a month of travelling through Southeast Asia, so I did not watch the markets closely. I would check my charts here and there during my downtime, but I did not dedicate screen time to fully scan through all currency pairs.
The daily timeframe shows a clear downtrend. After plotting my major levels, I can pinpoint the formation of this downtrend to be around January 20, 2026. The vertical line marks the point of my entry.
However, January was motivating. I'm even more motivated in 2026 to lock in on trading and make this work. The potential to learn a new skill, generate extra income, and travel comfortably has never been more enticing. There's too much I want to see and eat. Until that day comes, here is my trading recap for the week ending February 6th.
I capitalized on a couple of clear signals. The first was on the GBPAUD pair.
 |
| GBPAUD D1 |
 |
| GBPAUD H4 |
On the 4-hour timeframe, my sell entry was driven by the following observations:
- Price crossed below the ascending trend line, which indicated that the counter-trend move is over
- Price also crossed cleanly below the 20-period exponential moving average (EMA20), which signalled momentum to the downside
I prematurely exited this trade after seeing the bullish bar. This is labelled in my H4 timeframe chart above. I'm still trying to figure out a way to systematically exit trades. Creating an exit rule is one of the things I'll need to work on.
The next trade occurred on the GBPCHF pair.
 |
| GBPCHF D1 |
There was a similar signal on the GBPCHF currency pair. Although there wasn't a clear downtrend, I did see an entry signal as price indicated it wanted to break below a major daily level. I switched to the 4-hour timeframe to fine-tune my entry.
 |
| GBPCHF H4 |
Monitoring the price action on this currency pair required me to plot two different ascending trend lines. When price crossed below the steeper trend line, I entered a sell trade. This signal was supported by price crossing below the EMA20, which I used to gauge momentum.
This trade ended up hitting my stop loss and was closed out with a small profit. In hindsight, I may have been trailing my stop loss a little bit too aggressively. This also reinforces the need for me to figure out a better exit strategy.
Finally, let's go through a trade that did not work out. This occurred on the CADCHF pair.
 |
| CADCHF D1 |
On January 23rd, price crossed below a key daily level. Over the past week, price traded higher and tested this key level. Since price appeared to be holding below this level, I switched to the 4-hour timeframe to see if I could find an entry signal.
 |
| CADCHF H4 |
I plotted an ascending trend line. Price crossed below this trend line and EMA20 at approximately the same time. A strong bearish 4-hour candle formed, but momentum quickly died. I ended up exiting this trade at a small loss.
In hindsight, I don't regret this entry nor do I think there was anything wrong with it. This trade simply didn't work out, and I exited when I noticed the lack of momentum.
A few hours later, another strong bearish candle formed. For the week ahead, I'll likely continue monitoring this pair to assess if another entry is possible.