StewySongs

AUD/USD, GBP/USD, NZD/JPY and USD/CAD on watch for me today.

OANDA:GBPCAD   British Pound / Canadian Dollar
AUD/USD:

• If price pushes down impulsively below the big red wick to the left, it does so in a convincing manner and a subsequent tight flag forms, 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/USD:

• If price gives us a structural 1, 2, 3 approach at the end of our 1, 2, 3, within a 1, 2, 3 and the last part of the leg up which completes our structural 1, 2, 3 approach is corrective, then I'll be looking to get short with a risk entry after a phase line break on either the one hour or the fifteen minute chart.

• If price simply pushes down impulsively form where it currently is, it does so in a convincing manner and a subsequent tight one hour flag forms, 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.

NZD/JPY:

• If price gives us a structural 1, 2, 3 approach at the end of our 1, 2, 3, within a 1, 2, 3 and the last part of the leg up which completes our structural 1, 2, 3 approach is corrective, then I'll be looking to get short with a risk entry after a phase line break on either the one hour or the fifteen minute chart.

• If price simply pushes down impulsively below the green 2:00 PM wick to the left, it does so in a convincing manner and a subsequent tight flag forms giving us a confirmed evening star formation on the four chart, 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.

USD/CAD:

• If price pushes down to and ideally just below our lower, outer structure rayline, then regardless of how it does so I'll be waiting for a convincing push back up above it 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 only pushes down to and ideally just below the upper rayline of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing push back up above it followed by a tight one hour flag and then I'll 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.

Comments

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