EUR/USD, EUR/NZD and USD/CHF on watch for me today.
Good morning one and all.
I hope you're doing well, you had a great weekend and that you're feeling focussed for the week ahead.
So I closed my NZD/JPY trade down manually last night for break even (or +0.1% profit to be price) once price broke back with in our larger flag and then closed within it on the one hour chart and then immediately after I had price dropped like a stone in the direction I previously required it to. If I hadn't then I'd currently be running at around +2.7% profit, but that's trading for you. We document and journal the trade and then we move on to the next one.
My forecast for today is listed below and I currently have an order set on EUR/USD which I'm currently monitoring closely to make sure that my stop loss is in the right place encase I'm triggered into the trade.
Have a great day!
EUR/USD:
• If price impulses up, it does so in a convincing manner and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag.
• 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/NZD:
• If price corrects and a tight one hour flag forms then I'll be looking to get short with a reduced risk entry on the break of the flag.
• 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/CHF:
• If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag.
• 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 you're doing well, you had a great weekend and that you're feeling focussed for the week ahead.
So I closed my NZD/JPY trade down manually last night for break even (or +0.1% profit to be price) once price broke back with in our larger flag and then closed within it on the one hour chart and then immediately after I had price dropped like a stone in the direction I previously required it to. If I hadn't then I'd currently be running at around +2.7% profit, but that's trading for you. We document and journal the trade and then we move on to the next one.
My forecast for today is listed below and I currently have an order set on EUR/USD which I'm currently monitoring closely to make sure that my stop loss is in the right place encase I'm triggered into the trade.
Have a great day!
EUR/USD:
• If price impulses up, it does so in a convincing manner and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag.
• 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/NZD:
• If price corrects and a tight one hour flag forms then I'll be looking to get short with a reduced risk entry on the break of the flag.
• 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/CHF:
• If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag.
• 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.
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