NZD/USD and EUR/NZD on watch for me today.
NZD/USD:
• If price pushes up to and ideally just above our rayline I'll be waiting for a convincing impulse back down below our upper trend line, where I'll be looking for a reduced risk entry on the break of a subsequent tight flag.
• If price only pushes up to and ideally just above our upper trend line I'll still be happy to wait for a convincing impulse back down, where I'll again be looking for a reduced risk entry on the break of a subsequent tight flag.
• If price pushes up to or above our rayline and then it impulses back down convincingly or not I'll not be looking for any entry on the break of a subsequent flag, if the flag forms either through or above either our rayline or our upper trend line or through both.
• 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 any of these trades.
EUR//NZD:
• If price pushes up impulsively to and ideally just above our rayline, then I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag.
• If price pushes up impulsively to and ideally just above our rayline, then I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for 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 any of these trades.
• If price pushes up to and ideally just above our rayline I'll be waiting for a convincing impulse back down below our upper trend line, where I'll be looking for a reduced risk entry on the break of a subsequent tight flag.
• If price only pushes up to and ideally just above our upper trend line I'll still be happy to wait for a convincing impulse back down, where I'll again be looking for a reduced risk entry on the break of a subsequent tight flag.
• If price pushes up to or above our rayline and then it impulses back down convincingly or not I'll not be looking for any entry on the break of a subsequent flag, if the flag forms either through or above either our rayline or our upper trend line or through both.
• 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 any of these trades.
EUR//NZD:
• If price pushes up impulsively to and ideally just above our rayline, then I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag.
• If price pushes up impulsively to and ideally just above our rayline, then I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for 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 any of these trades.