• 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.
EUR/JPY
• 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.
USD/CAD
• If price pushes down to and ideally just below our lower 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 down to and ideally just below our lower rayline, then regardless of how price does so I'll be waiting for a convincing push back up followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag.
• If price only pushes down to our upper rayline, then again regardless of how price does so I'll be waiting for a convincing push back up followed by a tight flag where I'll again 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.
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“The goal of a successful trader is to make the best trades. Money is secondary.” – Alexander Elder
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"I prefer not to dwell on past situations. I tend to cut bad trades as soon as possible, forget them, and then move on to new opportunities." – Ed Seykota
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"Success takes time. Show up everyday." - FalconFX