USD/CHF, USD/CAD and EUR/JPY on watch for me today.
Good morning all,
I hope that you're well, you have a great weekend and that you're feeling suitably recharged.
So it looks like there could be some decent opportunities shaping up across the board this week, as always with some of them requiring a little patience and others looking a little closer to being ready. But where today is concerned USD/CHF is looking the closest to being ready where what I'll be looking for today is concerned. Is it the perfect setup? No. But we as traders aren't looking for perfection because the market is imperfect, we're simply looking for a setup which gives us an edge over the market and then we execute on that edge and let probabilities play out in our favour over a large enough sample size of trades.
Below is my forecast and my entry requirements for today, have a great day and I'll speak to you again tomorrow.
USD/CHF:
• If price pushes up to and ideally just above our upper rayline and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it.
• If price only pushes up to and ideally just above our lower rayline and the last part of the move is corrective, then I'll once again be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it but I'll be hiding my stop loss above our upper rayline for extra protection.
• 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.
USD/CAD:
• If price pushes up to and ideally just above our lower rayline and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it.
• 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/JPY:
• If price pushes down to and ideally just below our upper 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 or a fifteen minute rejection from it.
• 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.
I hope that you're well, you have a great weekend and that you're feeling suitably recharged.
So it looks like there could be some decent opportunities shaping up across the board this week, as always with some of them requiring a little patience and others looking a little closer to being ready. But where today is concerned USD/CHF is looking the closest to being ready where what I'll be looking for today is concerned. Is it the perfect setup? No. But we as traders aren't looking for perfection because the market is imperfect, we're simply looking for a setup which gives us an edge over the market and then we execute on that edge and let probabilities play out in our favour over a large enough sample size of trades.
Below is my forecast and my entry requirements for today, have a great day and I'll speak to you again tomorrow.
USD/CHF:
• If price pushes up to and ideally just above our upper rayline and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it.
• If price only pushes up to and ideally just above our lower rayline and the last part of the move is corrective, then I'll once again be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it but I'll be hiding my stop loss above our upper rayline for extra protection.
• 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.
USD/CAD:
• If price pushes up to and ideally just above our lower rayline and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it.
• 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/JPY:
• If price pushes down to and ideally just below our upper 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 or a fifteen minute rejection from it.
• 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.