EUR/JPY, USD/CAD, AUD/CHF and AUD/JPY on watch for me today.
EUR/JPY:
• If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get short with a risk entry after a phase line break on either the fifteen minute or the one hour chart.
• If price pushes up impulsively to and ideally just above other upper trend line of our most recent piece of structure, then I'll be waiting for a convincing push back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If price only pushes up to and ideally just above our rayline, then regardless of how it does so I'll be waiting for a convincing push back down below both it and the lower ascending trend line of our most recent piece of structure followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place any of these trades.
USD/CAD:
• If price pushes down to and ideally just below the lower descending trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with a reduced risk entry on the break of the flag.
• If price simply impulses back up, it does so in a convincing manner and a subsequent tight flag forms, then I'll once again be looking to get long with a reduced risk entry on the break of the flag.
• If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place either of these trades.
AUD/CHF:
• If price pushes up to and ideally just above our upper higher time frame rayline and the last part of the move is corrective, then I'll be looking to get short with a risk entry after a phase line break on either the fifteen minute or the one hour chart.
• If price pushes up impulsively to and ideally just above our higher time frame rayline, then I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If price only pushes up to and ideally just above our lower rayline, then regardless of how it does so I'll once again be waiting for a convincing impulse back down followed by a tight one hour flag and then I'll once again be looking to get short with a reduced risk entry on the break of the flag.
• If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place any of these trades.
AUD/JPY:
• If price pushes up to and ideally just above the upper trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If price only pushes up to and ideally just above our rayline, then regardless of how it does so I'll be waiting for a convincing push back down below it followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place either of these trades.
• If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get short with a risk entry after a phase line break on either the fifteen minute or the one hour chart.
• If price pushes up impulsively to and ideally just above other upper trend line of our most recent piece of structure, then I'll be waiting for a convincing push back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If price only pushes up to and ideally just above our rayline, then regardless of how it does so I'll be waiting for a convincing push back down below both it and the lower ascending trend line of our most recent piece of structure followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place any of these trades.
USD/CAD:
• If price pushes down to and ideally just below the lower descending trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with a reduced risk entry on the break of the flag.
• If price simply impulses back up, it does so in a convincing manner and a subsequent tight flag forms, then I'll once again be looking to get long with a reduced risk entry on the break of the flag.
• If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place either of these trades.
AUD/CHF:
• If price pushes up to and ideally just above our upper higher time frame rayline and the last part of the move is corrective, then I'll be looking to get short with a risk entry after a phase line break on either the fifteen minute or the one hour chart.
• If price pushes up impulsively to and ideally just above our higher time frame rayline, then I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If price only pushes up to and ideally just above our lower rayline, then regardless of how it does so I'll once again be waiting for a convincing impulse back down followed by a tight one hour flag and then I'll once again be looking to get short with a reduced risk entry on the break of the flag.
• If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place any of these trades.
AUD/JPY:
• If price pushes up to and ideally just above the upper trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If price only pushes up to and ideally just above our rayline, then regardless of how it does so I'll be waiting for a convincing push back down below it followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place either of these trades.