EUR/USD and GBP/JPY on watch for me today.EUR/USD:
If price breaks below our 90% rule I'll be looking for risk entries within a more developed a one hour flag.
If price breaks below our 90% rule I'll be looking for risk entries within a more developed a one hour flag, but with my stop loss above the 90% rule for protection as illustrated.
If price retraces back into our pattern then I'll flip my bias and I'll be looking for reduced risk entries after a tight flag for a short term move to the upside.
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 I will not place any of these trades.
GBP/JPY:
If prices pushes above our wick and then impulses back down I'll be looking for reduced risk entries below a subsequent tight flag.
If prices pushes above our wick and then impulses back down a little lower than the previous example I'll be looking for reduced risk entries below a subsequent tight flag, hiding my stop loss behind structure as illustrated so long as doing so gives me at least a 3:1 risk/reward to the low of structure.
If prices pushes above the top of structure and then impulses back down a little lower than the previous example, I'll again be looking for reduced risk entries below a subsequent tight flag, hiding my stop loss behind structure as illustrated so long as doing so gives me at least a 3:1 risk/reward to the low of structure.
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 I will not place any of these trades.
Nakedtrading
USDCHF , Buy Long Term (entry) (H4)Based on my novice analysis I’m expecting price to hit the first Tp and possible push through till the second TP.
•Price has broken the trend line and is consolidating for the weekend
•Price has created a high-low
•Price was last here in 2017 and then showed a bullish momentum.
•Ichimoku cloud is underneath price and Chikou Span , price has also crossed over cloud
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Please feel free to add any recommendations or comments! I’m going back a forward between trading Naked and trying to learn and using the cloud for confirmation.
NZDCAD sell forecast LONGBased on my novice analysis I am expecting price to possibly push through the s/r zone of .67028. Price is now in a downtrend. I believe the bulls have exhausted and the bears are now coming in. We go with the trend!
• stop loss placed at .67413, at the bottom of the most recent consolidation above the sell area
•Tp1 is placed at the top of the last most recent zone below
•Tp2 is placed at the bottom of the last most recent zone below
I will be waiting to see and M form before making an entry. Please feel free to add your perspectives!! Anything helps!