AUD/CHF, CAD/JPY, NZD/CAD and GBP/AUD on watch for me today.
AUD/CHF:
• I will not be trading this pair until the legal action surrounding the 2020 US Presidential Election has reached its conclusion, but if once it has price pushes up to and ideally just above our rayline double top area 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 only pushes up to the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll again be looking to get short with a risk entry after a phase line break on either the fifteen minute or the one hour chart, but I'll be hiding my stop loss above our upper rayline as illustrated for extra protection.
• If price pushes up impulsively to and ideally just above our rayline double top area, then I'll be waiting for a convincing push back down followed by a tight flag where 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.
CAD/JPY:
• I will not be trading this pair until the legal action surrounding the 2020 US Presidential Election has reached its conclusion, but if once it has price pushes up to give us a confirmed second top, it pushes back down to give us a confirmed second bottom and then it pushes back up to and ideally just above our 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 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.
NZD/CAD:
• I will not be trading this pair until the legal action surrounding the 2020 US Presidential Election has reached its conclusion, but if once it has price continues to push up to and ideally just above our rayline double top area in a corrective manner, then I'll be looking to get short with a risk entry within our most recent corrective channel after a phase line break on either the fifteen minute or the one hour chart with the fifteen minute chart.
• If price continues to push up to and ideally just above our rayline double top area and I'm subsequently unable to plot a trend line on either the one hour or the fifteen minute chart within our most recent piece of structure, then I'll simply look to get short with a risk entry after a phase line break of our most recent corrective channel as illustrated.
• 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.
GBP/AUD:
• I will not be trading this pair until the legal action surrounding the 2020 US Presidential Election has reached its conclusion, but if once it has price pushes up in a convincing manner and a tight one hour 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.
• I will not be trading this pair until the legal action surrounding the 2020 US Presidential Election has reached its conclusion, but if once it has price pushes up to and ideally just above our rayline double top area 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 only pushes up to the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll again be looking to get short with a risk entry after a phase line break on either the fifteen minute or the one hour chart, but I'll be hiding my stop loss above our upper rayline as illustrated for extra protection.
• If price pushes up impulsively to and ideally just above our rayline double top area, then I'll be waiting for a convincing push back down followed by a tight flag where 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.
CAD/JPY:
• I will not be trading this pair until the legal action surrounding the 2020 US Presidential Election has reached its conclusion, but if once it has price pushes up to give us a confirmed second top, it pushes back down to give us a confirmed second bottom and then it pushes back up to and ideally just above our 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 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.
NZD/CAD:
• I will not be trading this pair until the legal action surrounding the 2020 US Presidential Election has reached its conclusion, but if once it has price continues to push up to and ideally just above our rayline double top area in a corrective manner, then I'll be looking to get short with a risk entry within our most recent corrective channel after a phase line break on either the fifteen minute or the one hour chart with the fifteen minute chart.
• If price continues to push up to and ideally just above our rayline double top area and I'm subsequently unable to plot a trend line on either the one hour or the fifteen minute chart within our most recent piece of structure, then I'll simply look to get short with a risk entry after a phase line break of our most recent corrective channel as illustrated.
• 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.
GBP/AUD:
• I will not be trading this pair until the legal action surrounding the 2020 US Presidential Election has reached its conclusion, but if once it has price pushes up in a convincing manner and a tight one hour 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.