Hi guys and girls,
so because price broke our lower rayline impulsively I won't be trying to catch a falling knife, I'll instead be waiting for confirmation or as much as we could wish to see that the market actually wishes to retrace and that confirmation is as illustrated and as explained below...
NZD:
• If price pushes up, it does so impulsively a subsequent tight one hour flag forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
so because price broke our lower rayline impulsively I won't be trying to catch a falling knife, I'll instead be waiting for confirmation or as much as we could wish to see that the market actually wishes to retrace and that confirmation is as illustrated and as explained below...
NZD:
• If price pushes up, it does so impulsively a subsequent tight one hour flag forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.