• If price pushes up to and ideally just above the upper trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short either a reduced risk entry on the break of the flag or a risk entry within it.
• If price only pushes up to and ideally just above our upper rayline, then regardless of how it does so I'll once again be waiting for a convincing impulse back down followed by a tight one hour flag and then I'll again be looking to get short 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.
WTICO/USD:
• If price corrects and a tight one hour flag forms, then I'll be looking to get short with a risk entry within the flag.
• 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.