GBP/USD, NZD/CAD, AUD/CHF and NZD/JPY on watch for me today.
GBP/USD:
• If price pushes down to give us a confirmed second bottom and then it pushes up to give us a confirmed second top 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 price pushes down to give us a confirmed second bottom and then it pushes up to give us a confirmed second top and the last part of the move is impulsive, then I'll be awaiting a subsequent convincing impulse 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 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.
NZD/CAD:
• If price pushes up to give us a confirmed second top, it then pushes down to give us a confirmed second bottom and then it pushes back up to give us a confirmed third top 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 price pushes up to give us a confirmed second top, it then pushes down to give us a confirmed second bottom and then it pushes back up to give us a confirmed third top and the last part of the move is impulsive, then I'll be awaiting a subsequent convincing impulse 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 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.
AUD/CHF:
• If price pushes up to give us a confirmed second top, it then pushes down to give us a confirmed second bottom and then it pushes back up to give us a confirmed third top 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 price pushes up to give us a confirmed second top, it then pushes down to give us a confirmed second bottom and then it pushes back up to give us a confirmed third top and the last part of the move is impulsive, then I'll be awaiting a subsequent convincing impulse 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 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.
NZD/JPY:
• If price pushes up to give us a confirmed second top, it then pushes down to give us a confirmed second bottom and then it pushes back up to give us a confirmed third top 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 price pushes up to give us a confirmed second top, it then pushes down to give us a confirmed second bottom and then it pushes back up to give us a confirmed third top and the last part of the move is impulsive, then I'll be awaiting a subsequent convincing impulse 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 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 down to give us a confirmed second bottom and then it pushes up to give us a confirmed second top 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 price pushes down to give us a confirmed second bottom and then it pushes up to give us a confirmed second top and the last part of the move is impulsive, then I'll be awaiting a subsequent convincing impulse 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 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.
NZD/CAD:
• If price pushes up to give us a confirmed second top, it then pushes down to give us a confirmed second bottom and then it pushes back up to give us a confirmed third top 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 price pushes up to give us a confirmed second top, it then pushes down to give us a confirmed second bottom and then it pushes back up to give us a confirmed third top and the last part of the move is impulsive, then I'll be awaiting a subsequent convincing impulse 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 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.
AUD/CHF:
• If price pushes up to give us a confirmed second top, it then pushes down to give us a confirmed second bottom and then it pushes back up to give us a confirmed third top 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 price pushes up to give us a confirmed second top, it then pushes down to give us a confirmed second bottom and then it pushes back up to give us a confirmed third top and the last part of the move is impulsive, then I'll be awaiting a subsequent convincing impulse 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 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.
NZD/JPY:
• If price pushes up to give us a confirmed second top, it then pushes down to give us a confirmed second bottom and then it pushes back up to give us a confirmed third top 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 price pushes up to give us a confirmed second top, it then pushes down to give us a confirmed second bottom and then it pushes back up to give us a confirmed third top and the last part of the move is impulsive, then I'll be awaiting a subsequent convincing impulse 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 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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