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Forecast Amendment: EUR/CAD Added Into The Mix. Hi guys and girls. I've just added EUR/CAD into my Monday Forecast. Initially I thought that price might take until tomorrow to push down into our high value area, but it's reached it a little sooner than I'd anticipated and if price is going to shift and move a little more quickly than we otherwise might anticipate, then at the start of market open on Sunday night, or at at the open of the London Session on a Monday morning (BST) is when it's most likely to do so. So as professionals we don't use our egos to trade and cling on to what we thought might happen, but we adjust our sails when the wind changes direction. EUR/CAD: • If price pushes down to and ideally just below the lower descending trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour rejection from it. • If price pushes down to and ideally just below the lower descending trend line of our most recent piece of structure and it does so impulsively, then 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 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.
Long
by StewySongs
1
EUR/CHF, SUGAR/USD and EUR/NZD on watch for me today.Good morning guys and girls, I hope that you had a great weekend. I've got quite a lot to get through this morning. So I was tagged out of my EUR/CAD trade on Friday for a nice little profit of +1.94%. As price broke below our daily double bottom area I was keen to start locking in profit even more aggressively just above it and when price printed a one hour retrace at this double bottom area that's exactly what I did and then I was taken out by volatility shortly afterwards. It was touch and go whether I had this pair on watch again today for a potential buy, but I think what's looking more likely now is that price will push back up before it pushes back down to potentially given us an even better setup by way of a 1, 2, 3 touch structure which breaks below our daily low and then I will be most definitely looking to get long. But I think that this if this does happen it might take until tomorrow to do so and to give me the setup that I'll be looking for, so I'm happy to sit on my hands until then where this potential trading opportunity is concerned. I placed another trade last night which was a short trade on NZD/JPY. It ticked all of the boxes and more and shortly after I placed my order I was triggered in and a lot of momentum came into the market in in my forecasted direction almost immediately and then I went to bed. However during the night price retraced aggressively and it took me out for a -1.00% loss. A lot of people question themselves when they take a loss, but I've been in this game long enough to know that if I took this trade 100 times it would make me money and therefore I don't think when such setups present themselves, I execute because through repetition and experience I've acquired a probabilistic mindset, which is vital to our success as traders. As I've said before we just roll the dice as traders and if we have an edge of the market as I do then that edge will play out over a large enough sample size of trades. Once again I considered having this pair on watch again today as I think just as with EUR/CAD price might be giving as an expanding pattern at structure which we can potentially capitlise on, however just as with EUR/CAD I think that this trade setup will likely not be ready until tomorrow. So once again I'm happy to sit on my hands until it does (if indeed it does). Listed below is what I'll be looking for today and posted as separate screenshots this morning are both trade recaps and all three forecasts. Have a great day! EUR/CHF: • If price corrects and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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. SUGAR/USD: • If price impulses down further, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with a reduced risk entry on the break of 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. EUR/NZD: • If price pushes down to and ideally just below our rayline and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour rejection from it. • If price pushes down to and ideally just below our rayline and the last part of the move is impulsive, then 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 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.
by StewySongs
2
EUR/CHF, SUGAR/USD and EUR/NZD on watch for me today.Good morning guys and girls, I hope that you had a great weekend. I've got quite a lot to get through this morning. So I was tagged out of my EUR/CAD trade on Friday for a nice little profit of +1.94%. As price broke below our daily double bottom area I was keen to start locking in profit even more aggressively just above it and when price printed a one hour retrace at this double bottom area that's exactly what I did and then I was taken out by volatility shortly afterwards. It was touch and go whether I had this pair on watch again today for a potential buy, but I think what's looking more likely now is that price will push back up before it pushes back down to potentially given us an even better setup by way of a 1, 2, 3 touch structure which breaks below our daily low and then I will be most definitely looking to get long. But I think that this if this does happen it might take until tomorrow to do so and to give me the setup that I'll be looking for, so I'm happy to sit on my hands until then where this potential trading opportunity is concerned. I placed another trade last night which was a short trade on NZD/JPY. It ticked all of the boxes and more and shortly after I placed my order I was triggered in and a lot of momentum came into the market in in my forecasted direction almost immediately and then I went to bed. However during the night price retraced aggressively and it took me out for a -1.00% loss. A lot of people question themselves when they take a loss, but I've been in this game long enough to know that if I took this trade 100 times it would make me money and therefore I don't think when such setups present themselves, I execute because through repetition and experience I've acquired a probabilistic mindset, which is vital to our success as traders. As I've said before we just roll the dice as traders and if we have an edge of the market as I do then that edge will play out over a large enough sample size of trades. Once again I considered having this pair on watch again today as I think just as with EUR/CAD price might be giving as an expanding pattern at structure which we can potentially capitlise on, however just as with EUR/CAD I think that this trade setup will likely not be ready until tomorrow. So once again I'm happy to sit on my hands until it does (if indeed it does). Listed below is what I'll be looking for today and posted as separate screenshots this morning are both trade recaps and all three forecasts. Have a great day! EUR/CHF: • If price corrects and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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. SUGAR/USD: • If price impulses down further, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with a reduced risk entry on the break of 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. EUR/NZD: • If price pushes down to and ideally just below our rayline and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour rejection from it. • If price pushes down to and ideally just below our rayline and the last part of the move is impulsive, then 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 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.
OANDA:SUGARUSD
by StewySongs
1
EUR/CHF, SUGAR/USD and EUR/NZD on watch for me today.Good morning guys and girls, I hope that you had a great weekend. I've got quite a lot to get through this morning. So I was tagged out of my EUR/CAD trade on Friday for a nice little profit of +1.94%. As price broke below our daily double bottom area I was keen to start locking in profit even more aggressively just above it and when price printed a one hour retrace at this double bottom area that's exactly what I did and then I was taken out by volatility shortly afterwards. It was touch and go whether I had this pair on watch again today for a potential buy, but I think what's looking more likely now is that price will push back up before it pushes back down to potentially given us an even better setup by way of a 1, 2, 3 touch structure which breaks below our daily low and then I will be most definitely looking to get long. But I think that this if this does happen it might take until tomorrow to do so and to give me the setup that I'll be looking for, so I'm happy to sit on my hands until then where this potential trading opportunity is concerned. I placed another trade last night which was a short trade on NZD/JPY. It ticked all of the boxes and more and shortly after I placed my order I was triggered in and a lot of momentum came into the market in in my forecasted direction almost immediately and then I went to bed. However during the night price retraced aggressively and it took me out for a -1.00% loss. A lot of people question themselves when they take a loss, but I've been in this game long enough to know that if I took this trade 100 times it would make me money and therefore I don't think when such setups present themselves, I execute because through repetition and experience I've acquired a probabilistic mindset, which is vital to our success as traders. As I've said before we just roll the dice as traders and if we have an edge of the market as I do then that edge will play out over a large enough sample size of trades. Once again I considered having this pair on watch again today as I think just as with EUR/CAD price might be giving as an expanding pattern at structure which we can potentially capitlise on, however just as with EUR/CAD I think that this trade setup will likely not be ready until tomorrow. So once again I'm happy to sit on my hands until it does (if indeed it does). Listed below is what I'll be looking for today and posted as separate screenshots this morning are both trade recaps and all three forecasts. Have a great day! EUR/CHF: • If price corrects and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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. SUGAR/USD: • If price impulses down further, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with a reduced risk entry on the break of 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. EUR/NZD: • If price pushes down to and ideally just below our rayline and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour rejection from it. • If price pushes down to and ideally just below our rayline and the last part of the move is impulsive, then 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 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.
by StewySongs
1
EUR/CHF, SUGAR/USD and EUR/NZD on watch for me today.Good morning guys and girls, I hope that you had a great weekend. I've got quite a lot to get through this morning. So I was tagged out of my EUR/CAD trade on Friday for a nice little profit of +1.94%. As price broke below our daily double bottom area I was keen to start locking in profit even more aggressively just above it and when price printed a one hour retrace at this double bottom area that's exactly what I did and then I was taken out by volatility shortly afterwards. It was touch and go whether I had this pair on watch again today for a potential buy, but I think what's looking more likely now is that price will push back up before it pushes back down to potentially given us an even better setup by way of a 1, 2, 3 touch structure which breaks below our daily low and then I will be most definitely looking to get long. But I think that this if this does happen it might take until tomorrow to do so and to give me the setup that I'll be looking for, so I'm happy to sit on my hands until then where this potential trading opportunity is concerned. I placed another trade last night which was a short trade on NZD/JPY. It ticked all of the boxes and more and shortly after I placed my order I was triggered in and a lot of momentum came into the market in in my forecasted direction almost immediately and then I went to bed. However during the night price retraced aggressively and it took me out for a -1.00% loss. A lot of people question themselves when they take a loss, but I've been in this game long enough to know that if I took this trade 100 times it would make me money and therefore I don't think when such setups present themselves, I execute because through repetition and experience I've acquired a probabilistic mindset, which is vital to our success as traders. As I've said before we just roll the dice as traders and if we have an edge of the market as I do then that edge will play out over a large enough sample size of trades. Once again I considered having this pair on watch again today as I think just as with EUR/CAD price might be giving as an expanding pattern at structure which we can potentially capitlise on, however just as with EUR/CAD I think that this trade setup will likely not be ready until tomorrow. So once again I'm happy to sit on my hands until it does (if indeed it does). Listed below is what I'll be looking for today and posted as separate screenshots this morning are both trade recaps and all three forecasts. Have a great day! EUR/CHF: • If price corrects and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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. SUGAR/USD: • If price impulses down further, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with a reduced risk entry on the break of 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. EUR/NZD: • If price pushes down to and ideally just below our rayline and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour rejection from it. • If price pushes down to and ideally just below our rayline and the last part of the move is impulsive, then 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 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.
by StewySongs
EUR/CHF, SUGAR/USD and EUR/NZD on watch for me today.Good morning guys and girls, I hope that you had a great weekend. I've got quite a lot to get through this morning. So I was tagged out of my EUR/CAD trade on Friday for a nice little profit of +1.94%. As price broke below our daily double bottom area I was keen to start locking in profit even more aggressively just above it and when price printed a one hour retrace at this double bottom area that's exactly what I did and then I was taken out by volatility shortly afterwards. It was touch and go whether I had this pair on watch again today for a potential buy, but I think what's looking more likely now is that price will push back up before it pushes back down to potentially given us an even better setup by way of a 1, 2, 3 touch structure which breaks below our daily low and then I will be most definitely looking to get long. But I think that this if this does happen it might take until tomorrow to do so and to give me the setup that I'll be looking for, so I'm happy to sit on my hands until then where this potential trading opportunity is concerned. I placed another trade last night which was a short trade on NZD/JPY. It ticked all of the boxes and more and shortly after I placed my order I was triggered in and a lot of momentum came into the market in in my forecasted direction almost immediately and then I went to bed. However during the night price retraced aggressively and it took me out for a -1.00% loss. A lot of people question themselves when they take a loss, but I've been in this game long enough to know that if I took this trade 100 times it would make me money and therefore I don't think when such setups present themselves, I execute because through repetition and experience I've acquired a probabilistic mindset, which is vital to our success as traders. As I've said before we just roll the dice as traders and if we have an edge of the market as I do then that edge will play out over a large enough sample size of trades. Once again I considered having this pair on watch again today as I think just as with EUR/CAD price might be giving as an expanding pattern at structure which we can potentially capitlise on, however just as with EUR/CAD I think that this trade setup will likely not be ready until tomorrow. So once again I'm happy to sit on my hands until it does (if indeed it does). Listed below is what I'll be looking for today and posted as separate screenshots this morning are both trade recaps and all three forecasts. Have a great day! EUR/CHF: • If price corrects and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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. SUGAR/USD: • If price impulses down further, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with a reduced risk entry on the break of 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. EUR/NZD: • If price pushes down to and ideally just below our rayline and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour rejection from it. • If price pushes down to and ideally just below our rayline and the last part of the move is impulsive, then 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 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.
by StewySongs
CHF/JPY, SUGAR/USD, EUR/CAD and CAD/JPY on watch for me today.Good morning guys and girls, I hope you're well. Before I explain what I'll be looking for today let me just say before I forget that I made a slight mistake with my forecasting yesterday morning. By that I mean that what I said I'd be looking for from each pair beside the bullet points which I list beneath each currency pair subheading in my forecast description was actually what I said I'd be looking for from the pairs which I had on watch the previous day, which is why you might have noticed that what I said I was looking for was at odds with what I said I'd be looking for in the callout bubble descriptions on my screenshots. As you may or may not have guessed I use a template for the text in my forecast descriptions and I changed the currency pair subheadings to reflect the pairs that I was looking for yesterday, but I forgot to change the bullet points beneath them before pasting them over to TradingView, hence why the latter were my entry requirements for the pairs which I had on watch the previous day. Thankfully there will be no such problems this morning. Moving on and I'm currently running at just over +1.5% profit with my EUR/CAD trade. Whereas I would normally lock in profit above the highs I locked in profit more aggressively just above our most recent swing low as price approached the bottom of structure where a reversal is much more likely and although it does look like a tight bull flag has formed to push back up it's important to note that price never quite broke our previous low on the daily chart and that the bull flag is becoming very wide relative to the impulse up which preceded it, making perhaps a slow trickle down to this liquidity point more likely. So I have EUR/CAD on watch again today for this reasons for a potential buy if price does break our stand out daily low. If it does and we got a strong one hour close below it I will lock in profit just above the daily low and then be ready to flip my bias if I'm tagged out for around +2% profit in anticipation of a subsequent tight bull flag back above it which I'll be looking to get long on the break of and of course if that doesn't happen and we either slowly or quickly start to push lower then with a bit of luck and if I manage it well then I'll still be in the short trade which I'm currently in and this is why I constantly talk about the importance of remaining neutral in trading so that you don't become too attached to a bias. With regards to my potential long trade on CAD/JPY I'm just being a little bit careful where the tight one hour bull flag that's formed is concerned. a) Because there have been two subsequent one hour corrections since the move up which broke and retraced back above our previous daily low and b) Because the Canadian dollar is trickling up against several currency pairs across the board making some kind of sell off more likely which would make it more likely that I could be tagged in and tagged out of this trade. So what I'll be doing is waiting to see if price will give us an ever so slightly flatter bull flag, that it so say one where the gradient of the highs at the top of it doesn't have quite as much of a descent to it before I look to get long on the break of it, especially since it's also starting to become wider and wider relative to the impulse up which preceded it. But without further ado today's forecast is listed below. Have a great day and a great weekend and I'll be back on Monday morning with another one of these forecasts! CHF/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 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. SUGAR/USD: • 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 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. EUR/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 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. CAD/JPY: • If price impulses up, it does so in a convincing manner and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag. • If price only pushes up to and ideally just above our rayline, then regardless of how it does so I'll again be waiting for a convincing impulse back down followed by a tight flag and then I'll again be looking to get short with a reduced risk entry on the break of 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.
by StewySongs
1
CHF/JPY, SUGAR/USD, EUR/CAD and CAD/JPY on watch for me today.Good morning guys and girls, I hope you're well. Before I explain what I'll be looking for today let me just say before I forget that I made a slight mistake with my forecasting yesterday morning. By that I mean that what I said I'd be looking for from each pair beside the bullet points which I list beneath each currency pair subheading in my forecast description was actually what I said I'd be looking for from the pairs which I had on watch the previous day, which is why you might have noticed that what I said I was looking for was at odds with what I said I'd be looking for in the callout bubble descriptions on my screenshots. As you may or may not have guessed I use a template for the text in my forecast descriptions and I changed the currency pair subheadings to reflect the pairs that I was looking for yesterday, but I forgot to change the bullet points beneath them before pasting them over to TradingView, hence why the latter were my entry requirements for the pairs which I had on watch the previous day. Thankfully there will be no such problems this morning. Moving on and I'm currently running at just over +1.5% profit with my EUR/CAD trade. Whereas I would normally lock in profit above the highs I locked in profit more aggressively just above our most recent swing low as price approached the bottom of structure where a reversal is much more likely and although it does look like a tight bull flag has formed to push back up it's important to note that price never quite broke our previous low on the daily chart and that the bull flag is becoming very wide relative to the impulse up which preceded it, making perhaps a slow trickle down to this liquidity point more likely. So I have EUR/CAD on watch again today for this reasons for a potential buy if price does break our stand out daily low. If it does and we got a strong one hour close below it I will lock in profit just above the daily low and then be ready to flip my bias if I'm tagged out for around +2% profit in anticipation of a subsequent tight bull flag back above it which I'll be looking to get long on the break of and of course if that doesn't happen and we either slowly or quickly start to push lower then with a bit of luck and if I manage it well then I'll still be in the short trade which I'm currently in and this is why I constantly talk about the importance of remaining neutral in trading so that you don't become too attached to a bias. With regards to my potential long trade on CAD/JPY I'm just being a little bit careful where the tight one hour bull flag that's formed is concerned. a) Because there have been two subsequent one hour corrections since the move up which broke and retraced back above our previous daily low and b) Because the Canadian dollar is trickling up against several currency pairs across the board making some kind of sell off more likely which would make it more likely that I could be tagged in and tagged out of this trade. So what I'll be doing is waiting to see if price will give us an ever so slightly flatter bull flag, that it so say one where the gradient of the highs at the top of it doesn't have quite as much of a descent to it before I look to get long on the break of it, especially since it's also starting to become wider and wider relative to the impulse up which preceded it. But without further ado today's forecast is listed below. Have a great day and a great weekend and I'll be back on Monday morning with another one of these forecasts! CHF/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 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. SUGAR/USD: • 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 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. EUR/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 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. CAD/JPY: • If price impulses up, it does so in a convincing manner and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag. • If price only pushes up to and ideally just above our rayline, then regardless of how it does so I'll again be waiting for a convincing impulse back down followed by a tight flag and then I'll again be looking to get short with a reduced risk entry on the break of 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.
by StewySongs
2
CHF/JPY, SUGAR/USD, EUR/CAD and CAD/JPY on watch for me today.Good morning guys and girls, I hope you're well. Before I explain what I'll be looking for today let me just say before I forget that I made a slight mistake with my forecasting yesterday morning. By that I mean that what I said I'd be looking for from each pair beside the bullet points which I list beneath each currency pair subheading in my forecast description was actually what I said I'd be looking for from the pairs which I had on watch the previous day, which is why you might have noticed that what I said I was looking for was at odds with what I said I'd be looking for in the callout bubble descriptions on my screenshots. As you may or may not have guessed I use a template for the text in my forecast descriptions and I changed the currency pair subheadings to reflect the pairs that I was looking for yesterday, but I forgot to change the bullet points beneath them before pasting them over to TradingView, hence why the latter were my entry requirements for the pairs which I had on watch the previous day. Thankfully there will be no such problems this morning. Moving on and I'm currently running at just over +1.5% profit with my EUR/CAD trade. Whereas I would normally lock in profit above the highs I locked in profit more aggressively just above our most recent swing low as price approached the bottom of structure where a reversal is much more likely and although it does look like a tight bull flag has formed to push back up it's important to note that price never quite broke our previous low on the daily chart and that the bull flag is becoming very wide relative to the impulse up which preceded it, making perhaps a slow trickle down to this liquidity point more likely. So I have EUR/CAD on watch again today for this reasons for a potential buy if price does break our stand out daily low. If it does and we got a strong one hour close below it I will lock in profit just above the daily low and then be ready to flip my bias if I'm tagged out for around +2% profit in anticipation of a subsequent tight bull flag back above it which I'll be looking to get long on the break of and of course if that doesn't happen and we either slowly or quickly start to push lower then with a bit of luck and if I manage it well then I'll still be in the short trade which I'm currently in and this is why I constantly talk about the importance of remaining neutral in trading so that you don't become too attached to a bias. With regards to my potential long trade on CAD/JPY I'm just being a little bit careful where the tight one hour bull flag that's formed is concerned. a) Because there have been two subsequent one hour corrections since the move up which broke and retraced back above our previous daily low and b) Because the Canadian dollar is trickling up against several currency pairs across the board making some kind of sell off more likely which would make it more likely that I could be tagged in and tagged out of this trade. So what I'll be doing is waiting to see if price will give us an ever so slightly flatter bull flag, that it so say one where the gradient of the highs at the top of it doesn't have quite as much of a descent to it before I look to get long on the break of it, especially since it's also starting to become wider and wider relative to the impulse up which preceded it. But without further ado today's forecast is listed below. Have a great day and a great weekend and I'll be back on Monday morning with another one of these forecasts! CHF/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 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. SUGAR/USD: • 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 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. EUR/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 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. CAD/JPY: • If price impulses up, it does so in a convincing manner and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag. • If price only pushes up to and ideally just above our rayline, then regardless of how it does so I'll again be waiting for a convincing impulse back down followed by a tight flag and then I'll again be looking to get short with a reduced risk entry on the break of 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.
OANDA:SUGARUSD
by StewySongs
CHF/JPY, SUGAR/USD, EUR/CAD and CAD/JPY on watch for me today.Good morning guys and girls, I hope you're well. Before I explain what I'll be looking for today let me just say before I forget that I made a slight mistake with my forecasting yesterday morning. By that I mean that what I said I'd be looking for from each pair beside the bullet points which I list beneath each currency pair subheading in my forecast description was actually what I said I'd be looking for from the pairs which I had on watch the previous day, which is why you might have noticed that what I said I was looking for was at odds with what I said I'd be looking for in the callout bubble descriptions on my screenshots. As you may or may not have guessed I use a template for the text in my forecast descriptions and I changed the currency pair subheadings to reflect the pairs that I was looking for yesterday, but I forgot to change the bullet points beneath them before pasting them over to TradingView, hence why the latter were my entry requirements for the pairs which I had on watch the previous day. Thankfully there will be no such problems this morning. Moving on and I'm currently running at just over +1.5% profit with my EUR/CAD trade. Whereas I would normally lock in profit above the highs I locked in profit more aggressively just above our most recent swing low as price approached the bottom of structure where a reversal is much more likely and although it does look like a tight bull flag has formed to push back up it's important to note that price never quite broke our previous low on the daily chart and that the bull flag is becoming very wide relative to the impulse up which preceded it, making perhaps a slow trickle down to this liquidity point more likely. So I have EUR/CAD on watch again today for this reasons for a potential buy if price does break our stand out daily low. If it does and we got a strong one hour close below it I will lock in profit just above the daily low and then be ready to flip my bias if I'm tagged out for around +2% profit in anticipation of a subsequent tight bull flag back above it which I'll be looking to get long on the break of and of course if that doesn't happen and we either slowly or quickly start to push lower then with a bit of luck and if I manage it well then I'll still be in the short trade which I'm currently in and this is why I constantly talk about the importance of remaining neutral in trading so that you don't become too attached to a bias. With regards to my potential long trade on CAD/JPY I'm just being a little bit careful where the tight one hour bull flag that's formed is concerned. a) Because there have been two subsequent one hour corrections since the move up which broke and retraced back above our previous daily low and b) Because the Canadian dollar is trickling up against several currency pairs across the board making some kind of sell off more likely which would make it more likely that I could be tagged in and tagged out of this trade. So what I'll be doing is waiting to see if price will give us an ever so slightly flatter bull flag, that it so say one where the gradient of the highs at the top of it doesn't have quite as much of a descent to it before I look to get long on the break of it, especially since it's also starting to become wider and wider relative to the impulse up which preceded it. But without further ado today's forecast is listed below. Have a great day and a great weekend and I'll be back on Monday morning with another one of these forecasts! CHF/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 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. SUGAR/USD: • 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 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. EUR/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 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. CAD/JPY: • If price impulses up, it does so in a convincing manner and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag. • If price only pushes up to and ideally just above our rayline, then regardless of how it does so I'll again be waiting for a convincing impulse back down followed by a tight flag and then I'll again be looking to get short with a reduced risk entry on the break of 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.
by StewySongs
EUR/CAD, GBP/USD and CHF/JPY on watch for me today.Hi guys and girls, Just three pairs on watch for me today. I was triggered into what I forecasted last night on EUR/CAD at just shy of 2:00 BST after I'd placed my order and gone to bed, after a three touch structure break above a daily double top, a retracement back below, a so-called retest back above it and another retracement back below it which has left as with tweezer tops on the daily chart catching the support and resistance traders the wrong side of the market where they're likely to close their positions in unison, a four hour retrace on the four hour chart and a confirmed evening star formation on the one hour chart. You might notice some subtle differences in my chart work and this is because yesterday I analysed some improvements which I could make to my trading which had I implemented them previously would have made me even more profitable, in part because they would have increased the number of trading opportunities that would have been available to me and that's another reason why it's always important to remain neutral, because you're never too old or inexperienced to learn new things and to make improvements when it comes to things which you're already good at. My long trade on CAD/JPY has now been documented and journalled and my short trade on EUR/CAD trade is now running at just shy of +0.5% profit, so let's see how it plays out. Have a great day folks! EUR/CAD: • If price corrects and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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. GBP/USD: • If price impulses up, it does so in a convincing manner and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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. CHF/JPY: • If price pushes down to and ideally just below our rayline, then 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 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.
by StewySongs
2
EUR/CAD, GBP/USD and CHF/JPY on watch for me today.Hi guys and girls, Just three pairs on watch for me today. I was triggered into what I forecasted last night on EUR/CAD at just shy of 2:00 BST after I'd placed my order and gone to bed, after a three touch structure break above a daily double top, a retracement back below, a so-called retest back above it and another retracement back below it which has left as with tweezer tops on the daily chart catching the support and resistance traders the wrong side of the market where they're likely to close their positions in unison, a four hour retrace on the four hour chart and a confirmed evening star formation on the one hour chart. You might notice some subtle differences in my chart work and this is because yesterday I analysed some improvements which I could make to my trading which had I implemented them previously would have made me even more profitable, in part because they would have increased the number of trading opportunities that would have been available to me and that's another reason why it's always important to remain neutral, because you're never too old or inexperienced to learn new things and to make improvements when it comes to things which you're already good at. My long trade on CAD/JPY has now been documented and journalled and my short trade on EUR/CAD trade is now running at just shy of +0.5% profit, so let's see how it plays out. Have a great day folks! EUR/CAD: • If price corrects and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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. GBP/USD: • If price impulses up, it does so in a convincing manner and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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. CHF/JPY: • If price pushes down to and ideally just below our rayline, then 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 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.
by StewySongs
2
EUR/CAD, GBP/USD and CHF/JPY on watch for me today.Hi guys and girls, Just three pairs on watch for me today. As you can see I was triggered into what I forecasted last night at just shy of 2:00 BST after I'd placed my order and gone to bed, after a three touch structure break above a daily double top, a retracement back below, a so-called retest back above it and another retracement back below it which has left as with tweezer tops on the daily chart catching the support and resistance traders the wrong side of the market where they're likely to close their positions in unison, a four hour retrace on the four hour chart and a confirmed evening star formation on the one hour chart. You might notice some subtle differences in my chart work and this is because yesterday I analysed some improvements which I could make to my trading which had I implemented them previously would have made me even more profitable, in part because they would have increased the number of trading opportunities that would have been available to me and that's another reason why it's always important to remain neutral, because you're never too old or inexperienced to learn new things and to make improvements when it comes to things which you're already good at. My long trade on CAD/JPY has now been documented and journalled and my short trade on EUR/CAD trade is now running at just shy of +0.5% profit, so let's see how it plays out. Have a great day folks! EUR/CAD: • If price corrects and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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. GBP/USD: • If price impulses up, it does so in a convincing manner and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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. CHF/JPY: • If price pushes down to and ideally just below our rayline, then 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 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.
by StewySongs
1
NZD/JPY and CAD/JPY on watch for me today.Hi guys and girls. So I got involved in a long trade last night on CAD/JPY at just after 7:00 PM BST on the break of a tight fifteen minute flag which I posted a screenshot of just a moment ago, but I was then once again wicked out almost to the tick (never mind the pip) as the Asian Session opened. Unfortunately market manipulation as I've touched on before has been rife across the market as of late, regardless of how much regulation brokers are subjected to and particularly where the clear and obvious setups such as the ones which I look for are concerned because brokers obviously know where your stop loss is likely to be. But try and look for setups which aren't clear and obvious and I can assure from experience that your results will be far worse. So that's yet another loss for me, but I'm still massively in profit for the year and overall, at least by enough to justify the fact that trading is partly how I make my living. The amount I risked on this trade is the most I've ever risked on a trade where live trading is concerned, so the amount that I lost on this trade is therefore obviously the most I've ever lost on a trade too. But because I'm experienced and I've primed my psychology to deal with market manipulation and losses it has zero effect on my psychology whatsoever. If it did then I likely wouldn't have CAD/JPY on watch again which would mean that I would potentially be missing out on another glorious investment opportunity and that's why I tirelessly stress the importance of scaling your mindset before you try scaling your account. All we can do as traders is keep rolling the dice and we have an edge over the market as I do then over a large enough sample size of trades our edge will play out. NZD/JPY: • If price corrects and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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. CAD/JPY: • If price impulses up, it does so in a convincing manner and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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.
Long
by StewySongs
1
NZD/JPY and CAD/JPY on watch for me today.Hi guys and girls. So I got involved in a long trade last night on CAD/JPY at just after 7:00 PM BST on the break of a tight fifteen minute flag which I posted a screenshot of just a moment ago, but I was then once again wicked out almost to the tick (never mind the pip) as the Asian Session opened. Unfortunately market manipulation as I've touched on before has been rife across the market as of late, regardless of how much regulation brokers are subjected to and particularly where the clear and obvious setups such as the ones which I look for are concerned because brokers obviously know where your stop loss is likely to be. But try and look for setups which aren't clear and obvious and I can assure from experience that your results will be far worse. So that's yet another loss for me, but I'm still massively in profit for the year and overall, at least by enough to justify the fact that trading is partly how I make my living. The amount I risked on this trade is the most I've ever risked on a trade where live trading is concerned, so the amount that I lost on this trade is therefore obviously the most I've ever lost on a trade too. But because I'm experienced and I've primed my psychology to deal with market manipulation and losses it has zero effect on my psychology whatsoever. If it did then I likely wouldn't have CAD/JPY on watch again which would mean that I would potentially be missing out on another glorious investment opportunity and that's why I tirelessly stress the importance of scaling your mindset before you try scaling your account. All we can do as traders is keep rolling the dice and we have an edge over the market as I do then over a large enough sample size of trades our edge will play out. NZD/JPY: • If price corrects and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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. CAD/JPY: • If price impulses up, it does so in a convincing manner and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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.
Long
by StewySongs
NZD/JPY and CAD/JPY on watch for me today.Hi guys and girls. Here's a quick trade recap from me before I post screenshots of the entries that I'll be looking for today... I got involved in a long trade last night on CAD/JPY at just after 7:00 PM BST on the break of this tight fifteen minute flag, but I was then once again wicked out almost to the tick (never mind the pip) as the Asian Session opened. Unfortunately market manipulation as I've touched on before has been rife across the market as of late, regardless of how much regulation brokers are subjected to and particularly where the clear and obvious setups such as the ones which I look for are concerned because brokers obviously know where your stop loss is likely to be. But try and look for setups which aren't clear and obvious and I can assure from experience that your results will be far worse. So that's yet another loss for me, but I'm still massively in profit for the year and overall, at least by enough to justify the fact that trading is partly how I make my living. The amount I risked on this trade is the most I've ever risked on a trade where live trading is concerned, so the amount that I lost on this trade is therefore obviously the most I've ever lost on a trade too. But because I'm experienced and I've primed my psychology to deal with market manipulation and losses it has zero effect on my psychology whatsoever. If it did then I likely wouldn't have CAD/JPY on watch again which would mean that I would potentially be missing out on another glorious investment opportunity and that's why I tirelessly stress the importance of scaling your mindset before you try scaling your account. All we can do as traders is keep rolling the dice and we have an edge over the market as I do then over a large enough sample size of trades our edge will play out. NZD/JPY: • If price corrects and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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. CAD/JPY: • If price impulses up, it does so in a convincing manner and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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.
by StewySongs
CHF/JPY, AUD/CAD and CAD/JPY on watch for me today.Good morning guys and girls. I couldn't bring you a video this morning as I had to catch a train down to London so that I could spend some time with my mum for a couple of weeks as she'll soon be celebrating her 60th birthday. We saw quite a bit of movement during the Asian Session, so I've just had a look at my Top 6 and my Wildcard list pairs, reassessed the situation and then reforcasted, which is no easy feat on a wobbly train with the world's noisiest adults and their screaming kids on board I can tell you, so do excuse my artwork. So much for me specifically opting for the "quiet carriage". Lol CHF/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 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 AUD/CAD: • If price corrects and a tight one hour flag forms then I'll be looking to get long with a reduced risk entry on the break of 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. CAD/JPY: • If price pushes down to and ideally just below our rayline, then 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 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.
by StewySongs
1
CHF/JPY, AUD/CAD and CAD/JPY on watch for me today.Good morning guys and girls. I couldn't bring you a video this morning as I had to catch a train down to London so that I could spend some time with my mum for a couple of weeks as she'll soon be celebrating her 60th birthday. We saw quite a bit of movement during the Asian Session, so I've just had a look at my Top 6 and my Wildcard list pairs, reassessed the situation and then reforcasted, which is no easy feat on a wobbly train with the world's noisiest adults and their screaming kids on board I can tell you, so do excuse my artwork. So much for me specifically opting for the "quiet carriage". Lol CHF/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 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 AUD/CAD: • If price corrects and a tight one hour flag forms then I'll be looking to get long with a reduced risk entry on the break of 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. CAD/JPY: • If price pushes down to and ideally just below our rayline, then 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 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.
by StewySongs
1
CHF/JPY, AUD/CAD and CAD/JPY on watch for me today.Good morning guys and girls. I couldn't bring you a video this morning as I had to catch a train down to London so that I could spend some time with my mum for a couple of weeks as she'll soon be celebrating her 60th birthday. We saw quite a bit of movement during the Asian Session, so I've just had a look at my Top 6 and my Wildcard list pairs, reassessed the situation and then reforcasted, which is no easy feat on a wobbly train with the world's noisiest adults and their screaming kids on board I can tell you, so do excuse my artwork. So much for me specifically opting for the "quiet carriage". Lol CHF/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 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 AUD/CAD: • If price corrects and a tight one hour flag forms then I'll be looking to get long with a reduced risk entry on the break of 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. CAD/JPY: • If price pushes down to and ideally just below our rayline, then 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 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.
by StewySongs
CHF/JPY and AUD/JPY on watch for me today.CHF/JPY: • If price pushes up to and ideally just above our uppermost 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 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. AUD/JPY: • If price impulses back up above our rayline, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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.
by StewySongs
3
CHF/JPY, EUR/AUD and GBP/AUD on watch for me today.CHF/JPY: • If price pushes up to and ideally just above our previous high, 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 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. EUR/AUD: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is corrective, or price gives us a one hour rejection then I'll be looking to get short with a risk entry either after a phase line break on either the fifteen minute or the one hour chart, or just below the one hour rejection. • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is impulsive, then 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 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. GBP/AUD: • 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 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.
Short
by StewySongs
2
AUD/USD on watch for me today.AUD/USD: • If price impulses up above the upper descending trend line of our most recent piece of structure, it does so in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of 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.
Long
by StewySongs
1