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GBP/NZD and SUGAR/USD on watch for me today.GBP/NZD: • If price pushes up to and ideally just above our lower rayline and it does so correctively, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from 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. SUGAR/USD: • If price corrects and a tight one hour flag forms, 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 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.
OANDA:SUGARUSD
by StewySongs
1
WTICO/USD, GBP/JPY, GBP/NZD and AUD/USD on watch for me today.WTICO/USD: • If price corrects and a tight one hour flag forms, or it impulses down still further, it does so in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get short 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. GBP/JPY: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and it does so correctively, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from 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. GBP/NZD: • If price pushes up to and ideally just above our lower rayline and it does so correctively, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from 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. AUD/USD: • 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.
OANDA:WTICOUSDShort
by StewySongs
SUGAR/USD and AUD/USD on watch for me today.SUGAR/USD: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it. • If price only pushes up to and ideally just above our rayline and the last part of the move is corrective, then I'll once again be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it but I'll be hiding my stop loss above the upper ascending trend line of our most recent piece of structure for extra protection. • 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. AUD/USD: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it. • 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 flag and then I'll be looking to get short 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.
Short
by StewySongs
CHF/JPY on watch for me today.CHF/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 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.
Short
by StewySongs
1
CHF/JPY and USD/JPY on watch for me today.CHF/JPY: • If price pushes up to and ideally just above the upper 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 down followed by a tight one hour flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If price simply pushes down impulsively from where it currently is, it does so in a convincing manner and a subsequent tight one hour flag forms, then I'll again be looking to get short with a reduced risk entry on the break of the flag. • 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. USD/JPY: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from 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.
Short
by StewySongs
No Forecast (AUD/CHF Trade Update).No Forecast (AUD/CHF Trade Update). The market looks like it needs a little time to develop some lower time frame structure where many pairs are concerned, but if there has been some development by the end of today then I'll obviously bring you another forecast tomorrow morning by way of another forecast. Patience always pays folks and I'm in this game for the long haul, not with the intention of "getting risk quickly" like a large percentage of my fellow market participants but with the intention of continuing to generate wealth for myself and my family steadily and when you let the market come to you as opposed to you chasing the market you'll feel empowered as I always do and this is going to increase your confidence in your trading ability as it has mine which is vital to our success as traders.
Short
by StewySongs
1
AUD/CHF and CAD/CHF on watch for me today.AUD/CHF: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from 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. CAD/CHF: • If price pushes down to and ideally just below our most recent low and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour or a fifteen minute rejection from it, but I'll be hiding my stop loss below the wick to the left of our most recent low for extra protection. • 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.
Short
by StewySongs
EUR/AUD on watch for me today.EUR/AUD: • If price pushes down to and ideally just below the lower trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour or a fifteen minute rejection from 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.
Long
by StewySongs
AUD/CHF and EUR/USD on watch for me today.AUD/CHF: • If price pushes up to and ideally just above our upper rayline and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from 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 corrects and a tight flag forms, or price impulses up still further and a subsequent tight flag forms, 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 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.
by StewySongs
GBP/AUD, NZD/JPY, EUR/USD and AUD/CHF on watch for me today.GBP/AUD: • If price corrects and a tight one hour flag forms, 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 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. NZD/JPY: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from 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. AUD/CHF: • If price corrects and a tight one hour flag forms, then I'll be looking to get short 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.
by StewySongs
1
USD/JPY, GBP/JPY, NZD/JPY and AUD/USD on watch for me today.USD/JPY: • If price pushes down below the upper ascending trend line of our higher time frame structure, it does so impulsively a subsequent tight one hour flag forms, then I'll be looking to get short 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. GBP/JPY: • If price pushes down below our upper rayline, it does so impulsively a subsequent tight one hour flag forms, then I'll be looking to get short 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. NZD/JPY: • If price pushes down, it does so impulsively a subsequent tight one hour flag forms, then I'll be looking to get short 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. AUD/USD: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it. • If price only 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 flag and then I'll be looking to get short 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.
Short
by StewySongs
CHF/JPY and AUD/JPY on watch for me today.CHF/JPY: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from 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. AUD/JPY: • If price pushes down, it does so impulsively a subsequent tight one hour flag forms, then I'll be looking to get short 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.
Short
by StewySongs
2
CHF/JPY on watch for me today.CHF/JPY: • If price pushes up to and ideally just above the upper 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 down followed by a tight one hour flag and then I'll be looking to get short 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.
Short
by StewySongs
2
No Forecast (GBP/USD Trade Update).Good morning guys and girls, I'm now back at my office desk at my home address in Scotland. I still need to catch up on a few things and set my recording equipment up which I'll be doing later today, but once I've done so I'll be able to start making videos for you again from tomorrow onwards. For now here's a quick update on my GBP/USD trade. I was tagged out a few seconds after 8:00 AM this morning for +1.88%. Since price had previously twice come very close to my stop loss before pushing back up in my forecasted direction I moved my stop back down by a couple of pips whilst I was sat waiting for my train at London King's Cross station to give my trade just a tiny bit more room to breathe so that my stop loss made sense relative to where this new swing low had formed. I don't normally give back profit if I've already locked it in, but I will if it makes sense to do so and I'm only giving back a tiny amount such as +0.07% as I was in this instance. Price then subsequently pushed up leaving me running at around +4.00% profit at one point and a question I always ask myself when I have a lot of profit exposed to the market is, "Would I be comfortable having this much profit exposed to the market if I was trading a one million pound account?", which if I was trading a one million pound account would have meant that this trade would have been in profit by £40,000 with the possibility of price taking me out for £12,900. So after asking myself this I decided to lock in below the big wick that had formed on the one hour chart which was also a notable inflection point on the four hour chart. I could have locked in on the break of the subsequent tight flag that had formed on the one hour chart, but an amendment I made to my trading plan a while back was to not lock in on the break of tight flags if price has broken them correctively, because the testing I've done and my experience have taught me when this happens price will usually turn such tight flags into larger versions of themselves before price finally commits in my forecasted direction and given that the profit potential of this trade was just over +30% not locking in too tightly made sense. i.e. I was happy to be a bit more aggressive and lock in some of the +4%, but not too aggressive and by not being too aggressive give this trade a little more room to breathe. So I'm very happy with this trade which puts me in profit for the month and therefore obviously the quarter, a trade which I'll be documenting later today as one of my five daily goals and I look forward to bringing you videos once again from tomorrow onwards. Have a great day and I'll speak to you tomorrow!
Long
by StewySongs
1
No Forecast (GBP/USD Trade Update).Good morning guys and girls. So I didn't create a forecast yesterday for today because it was my last day with my mum down in England who's going through a difficult time at the moment, so I wanted to spend some quality time with her and help with a few things before travelling home to Scotland which is what I'll be doing in about four hours time. The good news is that I'll be making videos again once I'm back in my office with a reliable internet connection again, though I won't be making one tomorrow morning or creating a forecast at all this evening for tomorrow because I won't be home until quite late this evening and my partner and I have a lot of catching up to do before I start disappearing upstairs to my man cave, I mean office. Haha Where today is concerned I'm still in my GBP/USD trade but only just, so it looks like I might be tagged out of this soon for a nice little +1.29% profit. But if this doesn't happen and I manage to stay in the trade then I'll obviously break down how my it's going for you all (if I'm still in it) when I next make a video. Have a great day folks and I'll speak to you again on Thursday morning!
Long
by StewySongs
1
GBP/USD, EUR/USD, EUR/CAD and AUD/JPY on watch for me today.Good morning all, I hope you've all had a great weekend and that you're feeling refreshed and recharged. So this morning I got long with a risk entry within a one hour flag on GBP/USD, an entry type which I added to my trading plan about a month or so ago after I noticed from my past trades how much more profit I could have made had I done so sooner. I actually missed my initial entry this morning because I would have been triggered into the trade about half an hour before my alarm clock actually woke me, but when I did wake and I checked my charts the structure was still in tact and key point, the trade hadn't gone without me. If a trade does go without me then I walk away and I document it as a missed trade. I cannot stress the importance of not jumping in too late if you miss your entry and the trade has gone without you. This is what the amateurs do time and time again. We've seen them do this on Bitcoin recently and we've seen them do it on Dogecoin too (to name two notable examples). So don't trade like the amateurs, be professional, be patient and stick to your plan and granted doing this will prove profitable on occasions, but over a large sample size of trades it won't because you're consistently diminishing your risk to reward. However if you do miss your entry, the trade hasn't gone without you and the structure and your entry requirements remain intact then it's perfectly fine to set your order. That said shortly after I was tagged into my trade I was almost tagged out for a very quick loss as the London Session opened and the volatility which I was semi-anticipating kicked in, but thankfully I had my stop loss set just below where I knew many people would have their orders set and sure enough I narrowly stayed in by the skin of my teeth before a little bit of momentum kicked in to the upside. The move up however is already starting to look corrective which isn't good, but the higher time frame structure does look good and in fact very good, something which the amateurs also aren't typically paying attention to so let's see what happens. I've been trading and testing my strategy for long enough now to know that this setup gives me an edge over the market over a large enough sample size of trades, but no matter how long we as traders have been trading or testing we never know what's going to happen over a sample size of ONE trade, because the market is far too random for us to be able to. Below is what I'll be looking for today and how I'll be looking to execute on what I'll be looking for as always for your viewing and of course since I'm now already in my GBP/USD trade my entry requirement where this pair is concerned is now off of the table because it's now materialised and my order has been filled. Have a great day and I'll speak to you again tomorrow! GBP/USD: • If price corrects and a tight one hour flag forms, 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 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 impulses up, it does so in a convincing manner and a tight one hour flag forms, 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 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/CAD: • If price pushes up, it does so impulsively a subsequent tight one hour flag forms, 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 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. AUD/JPY: • If price pushes down to and ideally just below our upper rayline and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour or a fifteen minute rejection from 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.
Long
by StewySongs
2
GBP/USD, EUR/USD, EUR/CAD and AUD/JPY on watch for me today.Good morning all, I hope you've all had a great weekend and that you're feeling refreshed and recharged. So this morning I got long with a risk entry within a one hour flag on GBP/USD, an entry type which I added to my trading plan about a month or so ago after I noticed from my past trades how much more profit I could have made had I done so sooner. I actually missed my initial entry this morning because I would have been triggered into the trade about half an hour before my alarm clock actually woke me, but when I did wake and I checked my charts the structure was still in tact and key point, the trade hadn't gone without me. If a trade does go without me then I walk away and I document it as a missed trade. I cannot stress the importance of not jumping in too late if you miss your entry and the trade has gone without you. This is what the amateurs do time and time again. We've seen them do this on Bitcoin recently and we've seen them do it on Dogecoin too (to name two notable examples). So don't trade like the amateurs, be professional, be patient and stick to your plan and granted doing this will prove profitable on occasions, but over a large sample size of trades it won't because you're consistently diminishing your risk to reward. However if you do miss your entry, the trade hasn't gone without you and the structure and your entry requirements remain intact then it's perfectly fine to set your order. That said shortly after I was tagged into my trade I was almost tagged out for a very quick loss as the London Session opened and the volatility which I was semi-anticipating kicked in, but thankfully I had my stop loss set just below where I knew many people would have their orders set and sure enough I narrowly stayed in by the skin of my teeth before a little bit of momentum kicked in to the upside. The move up however is already starting to look corrective which isn't good, but the higher time frame structure does look good and in fact very good, something which the amateurs also aren't typically paying attention to so let's see what happens. I've been trading and testing my strategy for long enough now to know that this setup gives me an edge over the market over a large enough sample size of trades, but no matter how long we as traders have been trading or testing we never know what's going to happen over a sample size of ONE trade, because the market is far too random for us to be able to. Below is what I'll be looking for today and how I'll be looking to execute on what I'll be looking for as always for your viewing and of course since I'm now already in my GBP/USD trade my entry requirement where this pair is concerned is now off of the table because it's now materialised and my order has been filled. Have a great day and I'll speak to you again tomorrow! GBP/USD: • If price corrects and a tight one hour flag forms, 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 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 impulses up, it does so in a convincing manner and a tight one hour flag forms, 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 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/CAD: • If price pushes up, it does so impulsively a subsequent tight one hour flag forms, 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 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. AUD/JPY: • If price pushes down to and ideally just below our upper rayline and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour or a fifteen minute rejection from 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.
Long
by StewySongs
GBP/USD, EUR/USD, EUR/CAD and AUD/JPY on watch for me today.Good morning all, I hope you've all had a great weekend and that you're feeling refreshed and recharged. So this morning I got long with a risk entry within a one hour flag on GBP/USD, an entry type which I added to my trading plan about a month or so ago after I noticed from my past trades how much more profit I could have made had I done so sooner. I actually missed my initial entry this morning because I would have been triggered into the trade about half an hour before my alarm clock actually woke me, but when I did wake and I checked my charts the structure was still in tact and key point, the trade hadn't gone without me. If a trade does go without me then I walk away and I document it as a missed trade. I cannot stress the importance of not jumping in too late if you miss your entry and the trade has gone without you. This is what the amateurs do time and time again. We've seen them do this on Bitcoin recently and we've seen them do it on Dogecoin too (to name two notable examples). So don't trade like the amateurs, be professional, be patient and stick to your plan and granted doing this will prove profitable on occasions, but over a large sample size of trades it won't because you're consistently diminishing your risk to reward. However if you do miss your entry, the trade hasn't gone without you and the structure and your entry requirements remain intact then it's perfectly fine to set your order. That said shortly after I was tagged into my trade I was almost tagged out for a very quick loss as the London Session opened and the volatility which I was semi-anticipating kicked in, but thankfully I had my stop loss set just below where I knew many people would have their orders set and sure enough I narrowly stayed in by the skin of my teeth before a little bit of momentum kicked in to the upside. The move up however is already starting to look corrective which isn't good, but the higher time frame structure does look good and in fact very good, something which the amateurs also aren't typically paying attention to so let's see what happens. I've been trading and testing my strategy for long enough now to know that this setup gives me an edge over the market over a large enough sample size of trades, but no matter how long we as traders have been trading or testing we never know what's going to happen over a sample size of ONE trade, because the market is far too random for us to be able to. Below is what I'll be looking for today and how I'll be looking to execute on what I'll be looking for as always for your viewing and of course since I'm now already in my GBP/USD trade my entry requirement where this pair is concerned is now off of the table because it's now materialised and my order has been filled. Have a great day and I'll speak to you again tomorrow! GBP/USD: • If price corrects and a tight one hour flag forms, 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 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 impulses up, it does so in a convincing manner and a tight one hour flag forms, 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 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/CAD: • If price pushes up, it does so impulsively a subsequent tight one hour flag forms, 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 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. AUD/JPY: • If price pushes down to and ideally just below our upper rayline and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour or a fifteen minute rejection from 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.
Long
by StewySongs
GBP/USD, EUR/USD, EUR/CAD and AUD/JPY on watch for me today.Good morning all, I hope you've all had a great weekend and that you're feeling refreshed and recharged. So this morning I got long with a risk entry within a one hour flag on GBP/USD, an entry type which I added to my trading plan about a month or so ago after I noticed from my past trades how much more profit I could have made had I done so sooner. I actually missed my initial entry this morning because I would have been triggered into the trade about half an hour before my alarm clock actually woke me, but when I did wake and I checked my charts the structure was still in tact and key point, the trade hadn't gone without me. If a trade does go without me then I walk away and I document it as a missed trade. I cannot stress the importance of not jumping in too late if you miss your entry and the trade has gone without you. This is what the amateurs do time and time again. We've seen them do this on Bitcoin recently and we've seen them do it on Dogecoin too (to name two notable examples). So don't trade like the amateurs, be professional, be patient and stick to your plan and granted doing this will prove profitable on occasions, but over a large sample size of trades it won't because you're consistently diminishing your risk to reward. However if you do miss your entry, the trade hasn't gone without you and the structure and your entry requirements remain intact then it's perfectly fine to set your order. That said shortly after I was tagged into my trade I was almost tagged out for a very quick loss as the London Session opened and the volatility which I was semi-anticipating kicked in, but thankfully I had my stop loss set just below where I knew many people would have their orders set and sure enough I narrowly stayed in by the skin of my teeth before a little bit of momentum kicked in to the upside. The move up however is already starting to look corrective which isn't good, but the higher time frame structure does look good and in fact very good, something which the amateurs also aren't typically paying attention to so let's see what happens. I've been trading and testing my strategy for long enough now to know that this setup gives me an edge over the market over a large enough sample size of trades, but no matter how long we as traders have been trading or testing we never know what's going to happen over a sample size of ONE trade, because the market is far too random for us to be able to. Below is what I'll be looking for today and how I'll be looking to execute on what I'll be looking for as always for your viewing and of course since I'm now already in my GBP/USD trade my entry requirement where this pair is concerned is now off of the table because it's now materialised and my order has been filled. Have a great day and I'll speak to you again tomorrow! GBP/USD: • If price corrects and a tight one hour flag forms, 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 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 impulses up, it does so in a convincing manner and a tight one hour flag forms, 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 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/CAD: • If price pushes up, it does so impulsively a subsequent tight one hour flag forms, 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 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. AUD/JPY: • If price pushes down to and ideally just below our upper rayline and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour or a fifteen minute rejection from 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.
Long
by StewySongs
SOYBN/USD and EUR/USD on watch for me today.Good morning all, so September really was pretty devoid of many decent trading opportunities where how I trade is concerned, but once again I ended the month in profit and that's largely because I value my capital and the longevity of my trading career too much to be jumping into average trades when the market doesn't provide anything which I know from my testing gives me a clear edge over the market. Yes, the market always makes opportunities available. In fact almost every morning I spot opportunities which might play out, but not ones (to reiterate the point) which give me a clear edge over the market and the latter is all I'm interested in. Basically if I have to think for more than a couple of seconds about whether a setup gives me my "edge" or not, meaning that the investment opportunity hasn't "smacked me in the face" then I simply move on to the next pair and I look for my edge there. Remember! Success is not found in trading every opportunity you can find, most of the people who blow trading accounts are doing that. It's found in showing up, waiting patiently until a setup which meets your plan materialises and then simply executing accordingly and this is something that I intend to do until the end of time. With the above in mind listed below is what I'll be looking for from the market this morning as always for your viewing, tonight I'll be selecting my 'Top 6' pairs and my 'Wildcards' for next week, tomorrow morning I'll be creating my Monday Forecast and then on Monday as always I will bring you that forecast. Have a great day and a great weekend! SOYBN/USD: • If price pushes up, it does so impulsively a subsequent tight one hour flag forms, 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 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 and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour or a fifteen minute rejection from it. • If price pushes down to and ideally just below the lower trend line of our most recent piece of structure and it does so impulsively, then I'll be waiting for a convincing impulse back up followed by a tight 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 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.
Long
by StewySongs