EUR/JPY, USD/JPY and USD/CAD on watch for me today.EUR/JPY:
• If price impulses down below the low of our most recent piece of structure, it does so in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get short with a reduced risk entry on the break of the correction.
• If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place this trade.
USD/JPY:
• If price pushes up to and ideally just above our rayline 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 impulsively to and ideally just above our rayline, then I'll be waiting for a convincing impulse back 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.
USD/CAD:
• If price impulses up below the high of our most recent piece of structure, it does so in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the correction.
• If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place this trade.
