NZD/USD and USD/CAD on watch for me today.
NZD/USD:
• I will not be trading this pair until the legal action surrounding the 2020 US Presidential Election has reached its conclusion, but if once it has price pushes up to and ideally just above our mini rayline, it then impulses back down and a subsequent tight flag forms, then I'll be looking to get short on the break of the flag so long as all of the flag forms below the lower trend line of our most recent piece of structure.
• If price simply drop out of structure impulsively as illustrated, then I'll also look to get short on the break of a subsequent tight so long as all of the flag forms below the start of the correction of our most recent piece of structure.
• 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 then I will not place any of these trades.
USD/CAD:
• I will not be trading this pair until the legal action surrounding the 2020 US Presidential Election has reached its conclusion, but if once it has price pushes down to and ideally just below our rayline, it then impulses back up and a subsequent tight flag forms, then I'll be looking to get long on the break of the flag.
• 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 any of these trades.
• I will not be trading this pair until the legal action surrounding the 2020 US Presidential Election has reached its conclusion, but if once it has price pushes up to and ideally just above our mini rayline, it then impulses back down and a subsequent tight flag forms, then I'll be looking to get short on the break of the flag so long as all of the flag forms below the lower trend line of our most recent piece of structure.
• If price simply drop out of structure impulsively as illustrated, then I'll also look to get short on the break of a subsequent tight so long as all of the flag forms below the start of the correction of our most recent piece of structure.
• 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 then I will not place any of these trades.
USD/CAD:
• I will not be trading this pair until the legal action surrounding the 2020 US Presidential Election has reached its conclusion, but if once it has price pushes down to and ideally just below our rayline, it then impulses back up and a subsequent tight flag forms, then I'll be looking to get long on the break of the flag.
• 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 any of these trades.