StewySongs

CAD/JPY, SUGAR/USD, GBP/JPY and EUR/GBP on watch for me today.

OANDA:EURGBP   Euro / Sterlina
CAD/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 push back down below it 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.

SUGAR/USD:

• If 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 price only pushes up to and ideally just above our upper ray line, then regardless of how it does so I'll be waiting for a convincing push back down below it followed by a tight flag and then I'll again 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.

GBP/JPY:

• If 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 price only pushes up to and ideally just above our upper ray line, then regardless of how it does so I'll be waiting for a convincing push back down below it followed by a tight flag and then I'll again 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/GBP:

• If price pushes down to our rayline then regardless of how it does so I'll again be waiting for a convincing impulse back up above it followed by a tight flag and then I'll again 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 this trade.

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