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NZD/USD, NZD/JPY and EUR/USD on watch for me today.Good morning one and all. After some big moves this week a lot of the pairs that I trade need a little bit of time to develop new structure in my opinion and experience. That said there are still three which I really like the look of this morning and more importantly that make sense to me. However after studying my Trading Journal more thoroughly this week than I ever have before and after doing more backtesting than I ever have before I've discovered some priceless and very simple little tweaks that I could make to improve my trading results, so I'll be looking to trade the pairs which I have on watch this morning with a tiny bit more caution than I previously would have given that they could easily form new structure before commiting to the upside after the bearish momentum we've seen from them this week. My forecast as always I've pasted below. Have a great day and I'll speak to you again tomorrow! NZD/USD: • If price pushes down to and ideally just below our rayline, 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 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 to and ideally just below our lower rayline, 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 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 our rayline, 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 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
1
NZD/USD, NZD/JPY and EUR/USD on watch for me today.Good morning one and all. After some big moves this week a lot of the pairs that I trade need a little bit of time to develop new structure in my opinion and experience. That said there are still three which I really like the look of this morning and more importantly that make sense to me. However after studying my Trading Journal more thoroughly this week than I ever have before and after doing more backtesting than I ever have before I've discovered some priceless and very simple little tweaks that I could make to improve my trading results, so I'll be looking to trade the pairs which I have on watch this morning with a tiny bit more caution than I previously would have given that they could easily form new structure before commiting to the upside after the bearish momentum we've seen from them this week. My forecast as always I've pasted below. Have a great day and I'll speak to you again tomorrow! NZD/USD: • If price pushes down to and ideally just below our rayline, 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 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 to and ideally just below our lower rayline, 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 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 our rayline, 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 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
NZD/USD, NZD/JPY and EUR/USD on watch for me today.Good morning one and all. After some big moves this week a lot of the pairs that I trade need a little bit of time to develop new structure in my opinion and experience. That said there are still three which I really like the look of this morning and more importantly that make sense to me. However after studying my Trading Journal more thoroughly this week than I ever have before and after doing more backtesting than I ever have before I've discovered some priceless and very simple little tweaks that I could make to improve my trading results, so I'll be looking to trade the pairs which I have on watch this morning with a tiny bit more caution than I previously would have given that they could easily form new structure before commiting to the upside after the bearish momentum we've seen from them this week. My forecast as always I've pasted below. Have a great day and I'll speak to you again tomorrow! NZD/USD: • If price pushes down to and ideally just below our rayline, 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 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 to and ideally just below our lower rayline, 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 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 our rayline, 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 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
EUR/GBP and EUR/NZD on watch for me today.Good morning guys and girls. I hope you're doing well. So my NZD/JPY trade which I liquidated on Sunday night would now (had I not liquidated it) be running at just over +8.00% profit with +7.81% locked in which would have been my most profitable live trade of all time in both percentage and monetary terms. Am I frustrated by this? Not at all. In fact I actually feel motivated because I previously never even used to miss these moves because I didn't know how to forecast them in the first place and one of the reasons I feel motivated is because I was backtesting yesterday and based on something which I discovered on my charts plus one other tweak which I've made to aid my psychology I know that had I been in this trade today I most definitely would not have liquidated my position. Furthermore this is the second +7.00% move that I've missed in one week, so it's only a matter of time before these bites turn into catches! I'm not in any trades at the moment but my forecast for today I've listed below. I only have two pairs on watch today because we've seen some big moves this week and after big moves I typically prefer to let the market show its hand rather than trying to catch a bunch of falling knives. I've just added EUR/GBP to my Tuesday Forecast but this might not be ready by the end of the day, but since I only have one other pair on watch I thought I'd add it into the mix as a bit of a hedge. Have a great day! EUR/GBP: • If price corrects and a tight one hour flag forms then I'll be looking to get long 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. EUR/NZD: • If price pushes down to and ideally just below our 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 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
EUR/GBP and EUR/NZD on watch for me today.Good morning guys and girls. I hope you're doing well. So my NZD/JPY trade which I liquidated on Sunday night would now (had I not liquidated it) be running at just over +8.00% profit with +7.81% locked in which would have been my most profitable live trade of all time in both percentage and monetary terms. Am I frustrated by this? Not at all. In fact I actually feel motivated because I previously never even used to miss these moves because I didn't know how to forecast them in the first place and one of the reasons I feel motivated is because I was backtesting yesterday and based on something which I discovered on my charts plus one other tweak which I've made to aid my psychology I know that had I been in this trade today I most definitely would not have liquidated my position. Furthermore this is the second +7.00% move that I've missed in one week, so it's only a matter of time before these bites turn into catches! I'm not in any trades at the moment but my forecast for today I've listed below. I only have two pairs on watch today because we've seen some big moves this week and after big moves I typically prefer to let the market show its hand rather than trying to catch a bunch of falling knives. I've just added EUR/GBP to my Tuesday Forecast but this might not be ready by the end of the day, but since I only have one other pair on watch I thought I'd add it into the mix as a bit of a hedge. Have a great day! EUR/GBP: • If price corrects and a tight one hour flag forms then I'll be looking to get long 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. EUR/NZD: • If price pushes down to and ideally just below our 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 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
EUR/USD, EUR/NZD and USD/CHF on watch for me today.Good morning one and all. I hope you're doing well, you had a great weekend and that you're feeling focussed for the week ahead. So I closed my NZD/JPY trade down manually last night for break even (or +0.1% profit to be price) once price broke back with in our larger flag and then closed within it on the one hour chart and then immediately after I had price dropped like a stone in the direction I previously required it to. If I hadn't then I'd currently be running at around +2.7% profit, but that's trading for you. We document and journal the trade and then we move on to the next one. My forecast for today is listed below and I currently have an order set on EUR/USD which I'm currently monitoring closely to make sure that my stop loss is in the right place encase I'm triggered into the trade. Have a great day! 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 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. EUR/NZD: • If price corrects 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 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/CHF: • If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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.
by StewySongs
1
EUR/USD, EUR/NZD and USD/CHF on watch for me today.Good morning one and all. I hope you're doing well, you had a great weekend and that you're feeling focussed for the week ahead. So I closed my NZD/JPY trade down manually last night for break even (or +0.1% profit to be price) once price broke back with in our larger flag and then closed within it on the one hour chart and then immediately after I had price dropped like a stone in the direction I previously required it to. If I hadn't then I'd currently be running at around +2.7% profit, but that's trading for you. We document and journal the trade and then we move on to the next one. My forecast for today is listed below and I currently have an order set on EUR/USD which I'm currently monitoring closely to make sure that my stop loss is in the right place encase I'm triggered into the trade. Have a great day! 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 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. EUR/NZD: • If price corrects 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 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/CHF: • If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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.
by StewySongs
1
EUR/USD, EUR/NZD and USD/CHF on watch for me today.Good morning one and all. I hope you're doing well, you had a great weekend and that you're feeling focussed for the week ahead. So I closed my NZD/JPY trade down manually last night for break even (or +0.1% profit to be price) once price broke back with in our larger flag and then closed within it on the one hour chart and then immediately after I had price dropped like a stone in the direction I previously required it to. If I hadn't then I'd currently be running at around +2.7% profit, but that's trading for you. We document and journal the trade and then we move on to the next one. My forecast for today is listed below and I currently have an order set on EUR/USD which I'm currently monitoring closely to make sure that my stop loss is in the right place encase I'm triggered into the trade. Have a great day! 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 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. EUR/NZD: • If price corrects 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 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/CHF: • If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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.
by StewySongs
EUR/USD, EUR/NZD and USD/CHF on watch for me today.Good morning one and all. I hope you're doing well, you had a great weekend and that you're feeling focussed for the week ahead. So I closed my NZD/JPY trade down manually last night for break even (or +0.1% profit to be price) once price broke back with in our larger flag and then closed within it on the one hour chart and then immediately after I had price dropped like a stone in the direction I previously required it to. If I hadn't then I'd currently be running at around +2.7% profit, but that's trading for you. We document and journal the trade and then we move on to the next one. My forecast for today is listed below and I currently have an order set on EUR/USD which I'm currently monitoring closely to make sure that my stop loss is in the right place encase I'm triggered into the trade. Have a great day! 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 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. EUR/NZD: • If price corrects 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 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/CHF: • If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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.
by StewySongs
EUR/NZD, NZD/JPY and EUR/CAD on watch for me today.Good morning one and all. I hope you're doing well. So I took another loss yesterday, this time on EUR/NZD by the first of two volatility spikes during swap hours. I placed my trade at my cutoff point of 7:30 PM BST and once again unfortunately the liquidity didn't come in which would have pushed price clear of my stop loss. I also experienced slippage too which means that I ended up losing a fair bit more than the 1% I told my broker that I wanted to risk. Those who say that you shouldn't trade at this time, or at this time, or during this session, or that session either forget or they aren't aware just how much testing I've done of this strategy and how much experience I now have trading it, which is why I trade the hours I do because I've found that over a large enough sample size of trades it's a profitable one unless you start trading beyond my cutoff point. But unfortunately testing and probabilistic thinking are concepts which the majority of traders struggle with, which is to a large extent why many of them strategy hop the moment that they experience a period of drawdown which you'll experience at some point regardless of what strategy you trade. However thanks largely to the fact that I've trained my mind to deal with drawdown I was able to stay neutral and positive after my latest loss, which allowed me to take advantage of another golden opportunity and arguably an even better one just after swap hours had finished and the spread during the Asian Session had calmed down so I'm now currently short on NZD/JPY. Once again I was almost taken out for another loss, but price has since scooped back down to my entry point, so we'll see how this one plays out and of course I'll keep you updated on its progress. My forecast for today which includes a screenshot of my EUR/NZD trade and the NZD/JPY trade which I'm currently still in I've pasted below, as usual I'll be selecting my Top 6 and my Wildcard list pairs tonight, tomorrow morning I'll be creating my Monday Forecast and on Monday morning I'll bring you that forecast. Have a great day, a great weekend and I'll speak to you again soon! EUR/NZD: • 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 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. NZD/JPY: • If price corrects 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 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 above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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.
by StewySongs
1
EUR/NZD, NZD/JPY and EUR/CAD on watch for me today.Good morning one and all. I hope you're doing well. So I took another loss yesterday, this time on EUR/NZD by the first of two volatility spikes during swap hours. I placed my trade at my cutoff point of 7:30 PM BST and once again unfortunately the liquidity didn't come in which would have pushed price clear of my stop loss. I also experienced slippage too which means that I ended up losing a fair bit more than the 1% I told my broker that I wanted to risk. Those who say that you shouldn't trade at this time, or at this time, or during this session, or that session either forget or they aren't aware just how much testing I've done of this strategy and how much experience I now have trading it, which is why I trade the hours I do because I've found that over a large enough sample size of trades it's a profitable one unless you start trading beyond my cutoff point. But unfortunately testing and probabilistic thinking are concepts which the majority of traders struggle with, which is to a large extent why many of them strategy hop the moment that they experience a period of drawdown which you'll experience at some point regardless of what strategy you trade. However thanks largely to the fact that I've trained my mind to deal with drawdown I was able to stay neutral and positive after my latest loss, which allowed me to take advantage of another golden opportunity and arguably an even better one just after swap hours had finished and the spread during the Asian Session had calmed down so I'm now currently short on NZD/JPY. Once again I was almost taken out for another loss, but price has since scooped back down to my entry point, so we'll see how this one plays out and of course I'll keep you updated on its progress. My forecast for today which includes a screenshot of my EUR/NZD trade and the NZD/JPY trade which I'm currently still in I've pasted below, as usual I'll be selecting my Top 6 and my Wildcard list pairs tonight, tomorrow morning I'll be creating my Monday Forecast and on Monday morning I'll bring you that forecast. Have a great day, a great weekend and I'll speak to you again soon! EUR/NZD: • 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 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. NZD/JPY: • If price corrects 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 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 above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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.
by StewySongs
1
EUR/NZD, NZD/JPY and EUR/CAD on watch for me today.Good morning one and all. I hope you're doing well. So I took another loss yesterday, this time on EUR/NZD by the first of two volatility spikes during swap hours. I placed my trade at my cutoff point of 7:30 PM BST and once again unfortunately the liquidity didn't come in which would have pushed price clear of my stop loss. I also experienced slippage too which means that I ended up losing a fair bit more than the 1% I told my broker that I wanted to risk. Those who say that you shouldn't trade at this time, or at this time, or during this session, or that session either forget or they aren't aware just how much testing I've done of this strategy and how much experience I now have trading it, which is why I trade the hours I do because I've found that over a large enough sample size of trades it's a profitable one unless you start trading beyond my cutoff point. But unfortunately testing and probabilistic thinking are concepts which the majority of traders struggle with, which is to a large extent why many of them strategy hop the moment that they experience a period of drawdown which you'll experience at some point regardless of what strategy you trade. However thanks largely to the fact that I've trained my mind to deal with drawdown I was able to stay neutral and positive after my latest loss, which allowed me to take advantage of another golden opportunity and arguably an even better one just after swap hours had finished and the spread during the Asian Session had calmed down so I'm now currently short on NZD/JPY. Once again I was almost taken out for another loss, but price has since scooped back down to my entry point, so we'll see how this one plays out and of course I'll keep you updated on its progress. My forecast for today which includes a screenshot of my EUR/NZD trade and the NZD/JPY trade which I'm currently still in I've pasted below, as usual I'll be selecting my Top 6 and my Wildcard list pairs tonight, tomorrow morning I'll be creating my Monday Forecast and on Monday morning I'll bring you that forecast. Have a great day, a great weekend and I'll speak to you again soon! EUR/NZD: • 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 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. NZD/JPY: • If price corrects 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 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 above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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.
by StewySongs
EUR/CAD, EUR/NZD, CAD/JPY and NZD/JPY on watch for me today.Good morning one and all. I hope you're doing well. So I incurred another loss last night during swap hours, this time on EUR/GBP which I got long on the previous evening. Price was nowhere near my stop loss when I was tagged out, but the increased spread took me out. This loss means that I'm now experiencing my worst run of form from a results perspective since the day that I first started learning to trade. However I'm still a profitable trader, trading is still and will continue to be one of my professions and one of the reasons that I'm able to trade professionally is because I've trained my mind to deal with the inevitable losing runs which happen to every professional trader. If I hadn't then I'd be susceptible to all of the fear based decisions making which causes retail traders to lose much of their money and I'd be more likely to deviate from my trading plan. But because I've been trading for two and half years now I know from the testing that I've done that the way that I trade has proven profitable for several decades and that it will continue to do so because of how others trade. I also know from the testing that I've done that losing runs have and will continue to occur, which is why I only ever risk 1% of my account per trade. We as traders just need to keep rolling that dice and over a large enough sample size of trades our edges will play out, just as the casino's edge plays out consistently over a large enough sample size of spins or hands. So I'll be documenting and jornalling my EUR/GBP trade immediately after this video and ASRing (Advanced Self Reviewing) it on Saturday morning, but where today's trading is concerned we move on safe in the knowledge that we have an edge over the market and we use this to keep our confidence level high. Trading will knock you to the floor, then kick sand over your face and then it will spit on it. But once you've trained your psychology to deal with this then the world from a financial perspective really does become your oyster. 💪💪💪 Pasted below is my forecast for today. Have a super smashing day folks! ✌ EUR/CAD: • If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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. EUR/NZD: • If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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. CAD/JPY: • If price pushes down below our upper rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll 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. NZD/JPY: • If price pushes down below our upper rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll 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.
by StewySongs
3
EUR/CAD, EUR/NZD, CAD/JPY and NZD/JPY on watch for me today.Good morning one and all. I hope you're doing well. So I incurred another loss last night during swap hours, this time on EUR/GBP which I got long on the previous evening. Price was nowhere near my stop loss when I was tagged out, but the increased spread took me out. This loss means that I'm now experiencing my worst run of form from a results perspective since the day that I first started learning to trade. However I'm still a profitable trader, trading is still and will continue to be one of my professions and one of the reasons that I'm able to trade professionally is because I've trained my mind to deal with the inevitable losing runs which happen to every professional trader. If I hadn't then I'd be susceptible to all of the fear based decisions making which causes retail traders to lose much of their money and I'd be more likely to deviate from my trading plan. But because I've been trading for two and half years now I know from the testing that I've done that the way that I trade has proven profitable for several decades and that it will continue to do so because of how others trade. I also know from the testing that I've done that losing runs have and will continue to occur, which is why I only ever risk 1% of my account per trade. We as traders just need to keep rolling that dice and over a large enough sample size of trades our edges will play out, just as the casino's edge plays out consistently over a large enough sample size of spins or hands. So I'll be documenting and jornalling my EUR/GBP trade immediately after this video and ASRing (Advanced Self Reviewing) it on Saturday morning, but where today's trading is concerned we move on safe in the knowledge that we have an edge over the market and we use this to keep our confidence level high. Trading will knock you to the floor, then kick sand over your face and then it will spit on it. But once you've trained your psychology to deal with this then the world from a financial perspective really does become your oyster. 💪💪💪 Pasted below is my forecast for today. Have a super smashing day folks! ✌ EUR/CAD: • If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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. EUR/NZD: • If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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. CAD/JPY: • If price pushes down below our upper rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll 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. NZD/JPY: • If price pushes down below our upper rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll 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.
by StewySongs
3
EUR/CAD, EUR/NZD, CAD/JPY and NZD/JPY on watch for me today.Good morning one and all. I hope you're doing well. So I incurred another loss last night during swap hours, this time on EUR/GBP which I got long on the previous evening. Price was nowhere near my stop loss when I was tagged out, but the increased spread took me out. This loss means that I'm now experiencing my worst run of form from a results perspective since the day that I first started learning to trade. However I'm still a profitable trader, trading is still and will continue to be one of my professions and one of the reasons that I'm able to trade professionally is because I've trained my mind to deal with the inevitable losing runs which happen to every professional trader. If I hadn't then I'd be susceptible to all of the fear based decisions making which causes retail traders to lose much of their money and I'd be more likely to deviate from my trading plan. But because I've been trading for two and half years now I know from the testing that I've done that the way that I trade has proven profitable for several decades and that it will continue to do so because of how others trade. I also know from the testing that I've done that losing runs have and will continue to occur, which is why I only ever risk 1% of my account per trade. We as traders just need to keep rolling that dice and over a large enough sample size of trades our edges will play out, just as the casino's edge plays out consistently over a large enough sample size of spins or hands. So I'll be documenting and jornalling my EUR/GBP trade immediately after this video and ASRing (Advanced Self Reviewing) it on Saturday morning, but where today's trading is concerned we move on safe in the knowledge that we have an edge over the market and we use this to keep our confidence level high. Trading will knock you to the floor, then kick sand over your face and then it will spit on it. But once you've trained your psychology to deal with this then the world from a financial perspective really does become your oyster. 💪💪💪 Pasted below is my forecast for today. Have a super smashing day folks! ✌ EUR/CAD: • If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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. EUR/NZD: • If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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. CAD/JPY: • If price pushes down below our upper rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll 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. NZD/JPY: • If price pushes down below our upper rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll 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.
by StewySongs
EUR/CAD, EUR/NZD, CAD/JPY and NZD/JPY on watch for me today.Good morning one and all. I hope you're doing well. So I incurred another loss last night during swap hours, this time on EUR/GBP which I got long on the previous evening. Price was nowhere near my stop loss when I was tagged out, but the increased spread took me out. This loss means that I'm now experiencing my worst run of form from a results perspective since the day that I first started learning to trade. However I'm still a profitable trader, trading is still and will continue to be one of my professions and one of the reasons that I'm able to trade professionally is because I've trained my mind to deal with the inevitable losing runs which happen to every professional trader. If I hadn't then I'd be susceptible to all of the fear based decisions making which causes retail traders to lose much of their money and I'd be more likely to deviate from my trading plan. But because I've been trading for two and half years now I know from the testing that I've done that the way that I trade has proven profitable for several decades and that it will continue to do so because of how others trade. I also know from the testing that I've done that losing runs have and will continue to occur, which is why I only ever risk 1% of my account per trade. We as traders just need to keep rolling that dice and over a large enough sample size of trades our edges will play out, just as the casino's edge plays out consistently over a large enough sample size of spins or hands. So I'll be documenting and jornalling my EUR/GBP trade immediately after this video and ASRing (Advanced Self Reviewing) it on Saturday morning, but where today's trading is concerned we move on safe in the knowledge that we have an edge over the market and we use this to keep our confidence level high. Trading will knock you to the floor, then kick sand over your face and then it will spit on it. But once you've trained your psychology to deal with this then the world from a financial perspective really does become your oyster. 💪💪💪 Pasted below is my forecast for today. Have a super smashing day folks! ✌ EUR/CAD: • If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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. EUR/NZD: • If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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. CAD/JPY: • If price pushes down below our upper rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll 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. NZD/JPY: • If price pushes down below our upper rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll 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.
by StewySongs
2
EUR/CAD, EUR/NZD, CAD/JPY and NZD/JPY on watch for me today.Good morning one and all. I hope you're doing well. So I incurred another loss last night during swap hours, this time on EUR/GBP which I got long on the previous evening. Price was nowhere near my stop loss when I was tagged out, but the increased spread took me out. This loss means that I'm now experiencing my worst run of form from a results perspective since the day that I first started learning to trade. However I'm still a profitable trader, trading is still and will continue to be one of my professions and one of the reasons that I'm able to trade professionally is because I've trained my mind to deal with the inevitable losing runs which happen to every professional trader. If I hadn't then I'd be susceptible to all of the fear based decisions making which causes retail traders to lose much of their money and I'd be more likely to deviate from my trading plan. But because I've been trading for two and half years now I know from the testing that I've done that the way that I trade has proven profitable for several decades and that it will continue to do so because of how others trade. I also know from the testing that I've done that losing runs have and will continue to occur, which is why I only ever risk 1% of my account per trade. We as traders just need to keep rolling that dice and over a large enough sample size of trades our edges will play out, just as the casino's edge plays out consistently over a large enough sample size of spins or hands. So I'll be documenting and jornalling my EUR/GBP trade immediately after this video and ASRing (Advanced Self Reviewing) it on Saturday morning, but where today's trading is concerned we move on safe in the knowledge that we have an edge over the market and we use this to keep our confidence level high. Trading will knock you to the floor, then kick sand over your face and then it will spit on it. But once you've trained your psychology to deal with this then the world from a financial perspective really does become your oyster. 💪💪💪 Pasted below is my forecast for today. Have a super smashing day folks! ✌ EUR/CAD: • If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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. EUR/NZD: • If price pushes up above our lower rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long 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. CAD/JPY: • If price pushes down below our upper rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll 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. NZD/JPY: • If price pushes down below our upper rayline, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll 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.
by StewySongs
EUR/GBP and EUR/NZD on watch for me today.Good morning one and all. I hope you're well. So yesterday I took another loss, this time on SUGAR/USD which has now rocketed to the upside and although I'm now consistent enough to be able to trading professionally based on the very large sample size of fully documented and journalled trades that I have this is currently my worst run of form from a results perspective since I started doing so. This doesn't worry me in the slightest because of this edge that I have over the market which I know will continue to consistently play out over a subsequent large enough sample size of trades, because it's been tried and tested over several decades worth of data. But since I'm running my trading career like a business I'm always keen to make tweaks and improvements where I can. So yesterday I did a lot of assessing and re-evaluating and with trading being a predominantly psychological affair I've made several tweaks and improvements to my processes which are designed to improve my psychology moving forward. That said I did identify one key area of my trading from a technical perspective which needed improvement and I've now made an amendment to this which based on the fully documented and journalled trades that I've placed should see my trading results improve dramatically over a large enough sample size of trades. The latter resulted in me getting long on EUR/GBP last night just before I went to bed with price currently floating around my entry point as I type, but I wouldn't be surprised if some momentum kicks in to the upside when the London Session opens this morning. Below is the forecast which I created last night and of course my EUR/GBP forecast gave me the entry that I was looking for, so I'll now only be watching this today for monitoring purposes and as always I will not be looking to get long on EUR/NZD until my 1% risk exposure to EUR/GBP has been completely removed from the table. EUR/GBP: • If price corrects and a tight flag forms, then I'll be looking to get long 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. EUR/NZD: • If price pushes down to and ideally just below the lower descending 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 flag and then I'll be looking to get long with a reduced risk entry on the break of the flag. • If price only pushes down to and ideally just below our lower rayline, then regardless of how it does so I'll once again be waiting for a convincing impulse back up followed by a tight flag and then I'll again be looking to get long 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.
Long
by StewySongs
3
EUR/GBP and EUR/NZD on watch for me today.Good morning one and all. I hope you're well. So yesterday I took another loss, this time on SUGAR/USD which has now rocketed to the upside and although I'm now consistent enough to be able to trading professionally based on the very large sample size of fully documented and journalled trades that I have this is currently my worst run of form from a results perspective since I started doing so. This doesn't worry me in the slightest because of this edge that I have over the market which I know will continue to consistently play out over a subsequent large enough sample size of trades, because it's been tried and tested over several decades worth of data. But since I'm running my trading career like a business I'm always keen to make tweaks and improvements where I can. So yesterday I did a lot of assessing and re-evaluating and with trading being a predominantly psychological affair I've made several tweaks and improvements to my processes which are designed to improve my psychology moving forward. That said I did identify one key area of my trading from a technical perspective which needed improvement and I've now made an amendment to this which based on the fully documented and journalled trades that I've placed should see my trading results improve dramatically over a large enough sample size of trades. The latter resulted in me getting long on EUR/GBP last night just before I went to bed with price currently floating around my entry point as I type, but I wouldn't be surprised if some momentum kicks in to the upside when the London Session opens this morning. Below is the forecast which I created last night and of course my EUR/GBP forecast gave me the entry that I was looking for, so I'll now only be watching this today for monitoring purposes and as always I will not be looking to get long on EUR/NZD until my 1% risk exposure to EUR/GBP has been completely removed from the table. EUR/GBP: • If price corrects and a tight flag forms, then I'll be looking to get long 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. EUR/NZD: • If price pushes down to and ideally just below the lower descending 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 flag and then I'll be looking to get long with a reduced risk entry on the break of the flag. • If price only pushes down to and ideally just below our lower rayline, then regardless of how it does so I'll once again be waiting for a convincing impulse back up followed by a tight flag and then I'll again be looking to get long 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.
Long
by StewySongs
2
EUR/GBP and EUR/NZD on watch for me today.Good morning one and all. I hope you're well. So yesterday I took another loss, this time on SUGAR/USD which has now rocketed to the upside and although I'm now consistent enough to be able to trading professionally based on the very large sample size of fully documented and journalled trades that I have this is currently my worst run of form from a results perspective since I started doing so. This doesn't worry me in the slightest because of this edge that I have over the market which I know will continue to consistently play out over a subsequent large enough sample size of trades, because it's been tried and tested over several decades worth of data. But since I'm running my trading career like a business I'm always keen to make tweaks and improvements where I can. So yesterday I did a lot of assessing and re-evaluating and with trading being a predominantly psychological affair I've made several tweaks and improvements to my processes which are designed to improve my psychology moving forward. That said I did identify one key area of my trading from a technical perspective which needed improvement and I've now made an amendment to this which based on the fully documented and journalled trades that I've placed should see my trading results improve dramatically over a large enough sample size of trades. The latter resulted in me getting long on EUR/GBP last night just before I went to bed with price currently floating around my entry point as I type, but I wouldn't be surprised if some momentum kicks in to the upside when the London Session opens this morning. Below is the forecast which I created last night and of course my EUR/GBP forecast gave me the entry that I was looking for, so I'll now only be watching this today for monitoring purposes and as always I will not be looking to get long on EUR/NZD until my 1% risk exposure to EUR/GBP has been completely removed from the table. EUR/GBP: • If price corrects and a tight flag forms, then I'll be looking to get long 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. EUR/NZD: • If price pushes down to and ideally just below the lower descending 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 flag and then I'll be looking to get long with a reduced risk entry on the break of the flag. • If price only pushes down to and ideally just below our lower rayline, then regardless of how it does so I'll once again be waiting for a convincing impulse back up followed by a tight flag and then I'll again be looking to get long 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.
OANDA:SUGARUSDLong
by StewySongs
EUR/CAD, EUR/GBP and EUR/NZD on watch for me today.Good morning guys and girls, I hope you're doing well. I placed a short trade on SUGAR/USD yesterday. It met all of the criteria which has made it possible for me to trade professionally, but once again the liquidity just hasn't come into the market in my forecasted direction. On the lower time frames this trade no longer looks great from a structural perspective in my opinion and in my experience when this happens it almost always means that a trade that I'm in will result in another loss. However as professionals it's important that we're not as zoomed in as most people are on TradingView and we observe the bigger picture and on the daily chart yesterday's trading did leave SUGAR/USD with a confirmed evening star formation at structure, although admittedly still with a little bit of wick to the downside. So we'll see how this one plays out. As I keep saying, trading isn't about making money every single time you place a trade, if it was then none of us would be professional traders. It's about having an edge over the market and letting that edge play out over a large enough sample size of trades, something which the majority of people who trade aren't patient or probabilistically minded enough to do. Where today is concerned it's all about the Euro for me today and pasted below is my Tuesday forecast for your viewing... Have a great day! EUR/CAD: • 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 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 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. EUR/GBP: • 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 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/NZD: • If price pushes down to and ideally just below our lower 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 rejection from it. • If price pushes down to and ideally just below our lower rayline 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 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.
Long
by StewySongs
1
EUR/CAD, EUR/GBP and EUR/NZD on watch for me today.Good morning guys and girls, I hope you're doing well. I placed a short trade on SUGAR/USD yesterday. It met all of the criteria which has made it possible for me to trade professionally, but once again the liquidity just hasn't come into the market in my forecasted direction. On the lower time frames this trade no longer looks great from a structural perspective in my opinion and in my experience when this happens it almost always means that a trade that I'm in will result in another loss. However as professionals it's important that we're not as zoomed in as most people are on TradingView and we observe the bigger picture and on the daily chart yesterday's trading did leave SUGAR/USD with a confirmed evening star formation at structure, although admittedly still with a little bit of wick to the downside. So we'll see how this one plays out. As I keep saying, trading isn't about making money every single time you place a trade, if it was then none of us would be professional traders. It's about having an edge over the market and letting that edge play out over a large enough sample size of trades, something which the majority of people who trade aren't patient or probabilistically minded enough to do. Where today is concerned it's all about the Euro for me today and pasted below is my Tuesday forecast for your viewing... Have a great day! EUR/CAD: • 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 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 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. EUR/GBP: • 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 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/NZD: • If price pushes down to and ideally just below our lower 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 rejection from it. • If price pushes down to and ideally just below our lower rayline 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 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.
Long
by StewySongs
1
EUR/CAD, EUR/GBP and EUR/NZD on watch for me today.Good morning guys and girls, I hope you're doing well. I placed a short trade on SUGAR/USD yesterday. It met all of the criteria which has made it possible for me to trade professionally, but once again the liquidity just hasn't come into the market in my forecasted direction. On the lower time frames this trade no longer looks great from a structural perspective in my opinion and in my experience when this happens it almost always means that a trade that I'm in will result in another loss. However as professionals it's important that we're not as zoomed in as most people are on TradingView and we observe the bigger picture and on the daily chart yesterday's trading did leave SUGAR/USD with a confirmed evening star formation at structure, although admittedly still with a little bit of wick to the downside. So we'll see how this one plays out. As I keep saying, trading isn't about making money every single time you place a trade, if it was then none of us would be professional traders. It's about having an edge over the market and letting that edge play out over a large enough sample size of trades, something which the majority of people who trade aren't patient or probabilistically minded enough to do. Where today is concerned it's all about the Euro for me today and pasted below is my Tuesday forecast for your viewing... Have a great day! EUR/CAD: • 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 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 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. EUR/GBP: • 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 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/NZD: • If price pushes down to and ideally just below our lower 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 rejection from it. • If price pushes down to and ideally just below our lower rayline 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 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.
Long
by StewySongs