• If price pushes up to and ideally just above our rayline, 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 this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place this trade.
GBP/AUD:
• If price impulses down below our rayline and it does so in a convincing manner, then I'll be looking to get short with a reduced risk entry on the break of a subsequent tight flag.
• If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place this trade.
USD/CAD:
• If price impulses down below our rayline and it does so in a convincing manner, then I'll be looking to get short with a reduced risk entry on the break of a subsequent tight flag.
• If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place this trade.
EUR/JPY:
• If price impulses up above the upper descending trend line of our most recent corrective channel, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag.
• If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place this trade.