GBP/USD, AUD/CAD, EUR/AUD and AUD/JPY on watch for me today.
GBP/USD:
• 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 to get short with a risk entry after a phase line break on either the fifteen minute or the one hour 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 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 price only pushes up to and ideally just above our upper higher time frame trend line, then regardless of how it does so I'll be waiting for a convincing push 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 price only pushes up to and ideally just above the upper rayline of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing push back down followed by a tight one hour flag and then I'll again be looking to get short with 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.
AUD/CAD:
• 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 to get short with a risk entry after a phase line break on either the fifteen minute or the one hour 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 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 price pushes down below our rayline 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 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/AUD:
• 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 to get long with a risk entry after a phase line break on either the fifteen minute or the one hour chart.
• If price pushes down impulsively to and ideally just below our lower trend line, then I'll be waiting for a convincing push 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 price push back up above the lower rayline of our most recent piece of structure in a convincing manner and a tight flag follows, then I'll again be looking to get long with 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.
AUD/JPY:
• If price pushes up to and ideally just above our upper trend line, then regardless of how it does so I'll be waiting for a convincing push 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 price pushes down below the upper rayline of our most recent piece of structure 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 neither 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 either of these trades.
• 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 to get short with a risk entry after a phase line break on either the fifteen minute or the one hour 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 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 price only pushes up to and ideally just above our upper higher time frame trend line, then regardless of how it does so I'll be waiting for a convincing push 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 price only pushes up to and ideally just above the upper rayline of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing push back down followed by a tight one hour flag and then I'll again be looking to get short with 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.
AUD/CAD:
• 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 to get short with a risk entry after a phase line break on either the fifteen minute or the one hour 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 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 price pushes down below our rayline 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 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/AUD:
• 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 to get long with a risk entry after a phase line break on either the fifteen minute or the one hour chart.
• If price pushes down impulsively to and ideally just below our lower trend line, then I'll be waiting for a convincing push 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 price push back up above the lower rayline of our most recent piece of structure in a convincing manner and a tight flag follows, then I'll again be looking to get long with 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.
AUD/JPY:
• If price pushes up to and ideally just above our upper trend line, then regardless of how it does so I'll be waiting for a convincing push 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 price pushes down below the upper rayline of our most recent piece of structure 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 neither 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 either of these trades.
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