GBP/NZD and SUGAR/USD on watch for me today.
GBP/NZD:
• If price pushes up to and ideally just above our lower rayline and it does so correctively, 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.
SUGAR/USD:
• If price corrects and a tight one hour flag forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within 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.
• If price pushes up to and ideally just above our lower rayline and it does so correctively, 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.
SUGAR/USD:
• If price corrects and a tight one hour flag forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within 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.