AUD/USD, EUR/JPY and AUD/JPY on watch for me today.
AUD/USD:
I'll be looking for reduced risk entries if price pushes up to and ideally just above our rayline, pushes back down and then forms a tight flag.
I'll be looking for reduced risk entries if price pushes up to and ideally just above our rayline, pushes back down and then forms a tight flag. But if the flag forms close to our rayline, then I'll be hiding my stop loss above the rayline as illustrated for extra protection.
If price pushes up to and ideally just above our rayline, pushes back down and then forms a tight flag I'll not be getting involved if the flag forms either through or above structure as illustrated.
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 I will not place any of these trades.
EUR/JPY:
I'll be looking for reduced risk entries if price pushes up to and ideally just above our rayline, pushes back down and then forms a tight flag.
I'll be looking for reduced risk entries if price pushes up to and ideally just above our rayline, pushes back down and then forms a tight flag. But if the flag forms close to our rayline, then I'll be hiding my stop loss above the rayline as illustrated for extra protection.
If price pushes up to and ideally just above our rayline, pushes back down and then forms a tight flag I'll not be getting involved if the flag forms either through or above structure as illustrated.
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 I will not place any of these trades.
AUD/JPY:
I'll be looking for reduced risk entries if price pushes down below our rayline and then forms a tight flag.
I'll be looking for reduced risk entries if price pushes down below our rayline and then forms a tight flag. But if the flag forms close to our rayline, then I'll be hiding my stop loss above the rayline as illustrated for extra protection.
If price pushes down and then forms a tight flag either through or above our rayline as illustrated I'll not be placing a trade.
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 I will not place any of these trades.
I'll be looking for reduced risk entries if price pushes up to and ideally just above our rayline, pushes back down and then forms a tight flag.
I'll be looking for reduced risk entries if price pushes up to and ideally just above our rayline, pushes back down and then forms a tight flag. But if the flag forms close to our rayline, then I'll be hiding my stop loss above the rayline as illustrated for extra protection.
If price pushes up to and ideally just above our rayline, pushes back down and then forms a tight flag I'll not be getting involved if the flag forms either through or above structure as illustrated.
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 I will not place any of these trades.
EUR/JPY:
I'll be looking for reduced risk entries if price pushes up to and ideally just above our rayline, pushes back down and then forms a tight flag.
I'll be looking for reduced risk entries if price pushes up to and ideally just above our rayline, pushes back down and then forms a tight flag. But if the flag forms close to our rayline, then I'll be hiding my stop loss above the rayline as illustrated for extra protection.
If price pushes up to and ideally just above our rayline, pushes back down and then forms a tight flag I'll not be getting involved if the flag forms either through or above structure as illustrated.
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 I will not place any of these trades.
AUD/JPY:
I'll be looking for reduced risk entries if price pushes down below our rayline and then forms a tight flag.
I'll be looking for reduced risk entries if price pushes down below our rayline and then forms a tight flag. But if the flag forms close to our rayline, then I'll be hiding my stop loss above the rayline as illustrated for extra protection.
If price pushes down and then forms a tight flag either through or above our rayline as illustrated I'll not be placing a trade.
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 I will not place any of these trades.