EUR/JPY, CAD/CHF and USD/CAD on watch for me today.
EUR/JPY:
• If price pushes up to and ideally just above our rayline, 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 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.
CAD/CHF:
• If price pushes up to and ideally just above our rayline and the last part of the move is corrective, 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.
• 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.
USD/CAD:
• If price pushes down to and ideally just below our rayline, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then 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.
• If price pushes up to and ideally just above our rayline, 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 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.
CAD/CHF:
• If price pushes up to and ideally just above our rayline and the last part of the move is corrective, 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.
• 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.
USD/CAD:
• If price pushes down to and ideally just below our rayline, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then 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.