EUR/NZD, GBP/CAD, GBP/USD and NZD/CAD on watch for me today.
EUR/NZD:
• 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 down to and ideally just below our lower trend line, then regardless of how it does so I'll be waiting for a convincing push back up followed by a tight flag where 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.
GBP/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 pushes down to give us a confirmed second bottom and then it pushes up correctively to give us a confirmed second top ideally breaking just above our previous high, 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 so long as the flag itself is fairly horizontal in nature.
• If price pushes down to give us a confirmed second bottom and then it pushes up impulsively to give us a confirmed second top, again ideally breaking just above our previous high, then I'll be waiting for an impulse down followed by a tight flag and then I'll be looking to get short 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.
GBP/USD:
• 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 down to give us a confirmed second bottom and then it pushes up correctively to give us a confirmed second top ideally breaking just above our previous high, 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 so long as the flag itself is fairly horizontal in nature.
• If price pushes down to give us a confirmed second bottom and then it pushes up impulsively to give us a confirmed second top, again ideally breaking just above our previous high, then I'll be waiting for an impulse down followed by a tight flag and then I'll be looking to get short 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/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 impulses down below our rayline and a tight flag follows, then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If the flag forms a little higher than in the example to the left then I'll use the rayline as a shield by hiding my stop loss above it as illustrated for extra protection.
• 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.
• 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 down to and ideally just below our lower trend line, then regardless of how it does so I'll be waiting for a convincing push back up followed by a tight flag where 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.
GBP/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 pushes down to give us a confirmed second bottom and then it pushes up correctively to give us a confirmed second top ideally breaking just above our previous high, 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 so long as the flag itself is fairly horizontal in nature.
• If price pushes down to give us a confirmed second bottom and then it pushes up impulsively to give us a confirmed second top, again ideally breaking just above our previous high, then I'll be waiting for an impulse down followed by a tight flag and then I'll be looking to get short 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.
GBP/USD:
• 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 down to give us a confirmed second bottom and then it pushes up correctively to give us a confirmed second top ideally breaking just above our previous high, 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 so long as the flag itself is fairly horizontal in nature.
• If price pushes down to give us a confirmed second bottom and then it pushes up impulsively to give us a confirmed second top, again ideally breaking just above our previous high, then I'll be waiting for an impulse down followed by a tight flag and then I'll be looking to get short 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/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 impulses down below our rayline and a tight flag follows, then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If the flag forms a little higher than in the example to the left then I'll use the rayline as a shield by hiding my stop loss above it as illustrated for extra protection.
• 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.