USD/JPY and EUR/USD on watch for me today.
Good morning all,
I hope you're well.
So I took yesterday off to go trout fishing with an old school friend of mine since I'll be travelling back home to Scotland next Tuesday. I don't normally take days off during the week, but being able to do so if I want to is one of the things that I like about trading for a living and about being self-employed in general.
However it's business as usual today for me, so below are my entry requirements with regards to what I'll be looking for from the market today. These requirements may not be met before the end of today, but the market across the board once again looks like it needs a little time to develop at least in terms of how I trade.
Have a great day!
USD/JPY:
• If price pushes up to and ideally just above our upper rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight one hour flag and then I'll be looking to get short 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.
EUR/USD:
• If price pushes down to and ideally just below the lower trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight one hour flag and 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 price simply pushes up, it does so impulsively and a subsequent tight one hour flag forms, then I'll once again 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.
I hope you're well.
So I took yesterday off to go trout fishing with an old school friend of mine since I'll be travelling back home to Scotland next Tuesday. I don't normally take days off during the week, but being able to do so if I want to is one of the things that I like about trading for a living and about being self-employed in general.
However it's business as usual today for me, so below are my entry requirements with regards to what I'll be looking for from the market today. These requirements may not be met before the end of today, but the market across the board once again looks like it needs a little time to develop at least in terms of how I trade.
Have a great day!
USD/JPY:
• If price pushes up to and ideally just above our upper rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight one hour flag and then I'll be looking to get short 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.
EUR/USD:
• If price pushes down to and ideally just below the lower trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight one hour flag and 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 price simply pushes up, it does so impulsively and a subsequent tight one hour flag forms, then I'll once again 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.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.