GBP/USD, EUR/JPY, GBP/JPY and GBP/NZD on watch for me today.
GBP/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 upper rayline, then regardless of how it does so I'll be waiting for a convincing push back down below our lower rayline 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 price impulses down a little further as illustrated 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 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 either of these trades.
EUR/JPY:
• 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 upper rayline, then regardless of how it does so I'll be waiting for a convincing push back down below our upper rayline 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 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.
GBP/JPY:
• 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 upper trend line , then regardless of how it does so I'll be waiting for a convincing push 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 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.
GBP/NZD:
• 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 lower trend line , then regardless of how it does so I'll be waiting for a convincing push back up followed by a tight one hour flag and then I'll be looking to get long with a reduced risk entry 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 this trade.
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