StewySongs

NZD/USD and GBP/USD on watch for me today.

Short
OANDA:GBPUSD   British Pound / U.S. Dollar
NZD/USD:

• If price pushes up to and ideally just above our upper trend line and the last part of the move is corrective, then I'll be looking for a risk entry after a phase line break on either the one hour or the fifteen minute chart.

• If price pushes up impulsively to and ideally just above our upper trend line , then I'll be waiting for a convincing push back down below our rayline 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 to and ideally just above our rayline, then regardless of how price does so 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.

GBP/USD:

• If price pushes up to and ideally just above our upper trend line and the last part of the move is corrective, then I'll be looking for a risk entry after a phase line break on either the one hour or the fifteen minute chart.

• If price pushes up impulsively to and ideally just above our upper trend line , then I'll be waiting for a convincing push back down below our rayline 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 to and ideally just above our rayline, then regardless of how price does so 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 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.

Comments

For example, what exactly do you mean by this "...and the last part of the move is corrective, then I'll be looking for a risk entry after a phase line..."? How would you explain a corrective move on either of these two charts? What do you mean by a risk entry? What is a phase line?
So, 3 points. :-)
Lastly, as I mentioned in the previous message, how do you finally decide before coming down to the lower time frames that there is more probably going to be a drop or an upward move? I have got your points related to the masses' psychology, traders getting caught on the wrong side of the line/move, an impulsive move, etc.

Remember, these questions are from someone who is mostly a very quick and keen learner! Not to mention I am in love with the way your read/analyze/predict charts!
+3 Reply
nadeemenglish nadeemenglish
The corrective move is clear to me now after watching some of your previous videos. It is the move when the price struggles and moves slowly instead of a sharp move in one direction.
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Hi bro...I have a question...Why do you feel, there will be more likely a drop downwards on this chart? I want to know the reason. Maybe, you can make a separate video on explaining your strategy, the way you predict to yourself first, the likely drop or the surge. If you have already made that kind of a video, plz do let me know. I discovered your work just today, and I am impressed. I love it! I have checked out some more vidz as well by you, but still, I think it would be awesome if you can explain the above mentioned points. I really honestly love your work. No flattery!
+1 Reply
Noted
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thanks bro !
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good job
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NZDUSD bullish on short term, bearish on long run.
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Thanks for participating. I think that the dollar will fall this week, which is in the same direction as cryptocurrencies
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Keep up the good work man you look the market in a similar way to me

This was my NZDUSD trade very similar to what u was looking at

Have a great week
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