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USD/CHF on watch for me today. for OANDA:USDCHF by StewySongs

Good morning one and all,

I hope you’re doing well.

So the good news is that late last night I booked my train journey back home to Scotland. So on the 5th of October I’ll now be returning home, meaning that from the evening of the 5th of October onwards I’ll have access to a reliable internet connection again with a substantial amount of bandwidth. Meaning that from the 6th or the 7th of October onwards (depending on how quickly I can get myself set up) I’ll be bringing you video forecasts again where I’ll be able to talk you through my through process, instead of the image based ones which I’ve been sharing with you these past few weeks which I’m super excited about.

Where today is concerned the market isn’t looking quite as attractive as it was yesterday in my opinion and experience, at least in terms of how I trade. But what most traders don’t understand is that the market moves in cycles and that said there are three pairs in particular which I’ve got my eye on for next week, those being EUR/AUD , USD/CAD and USD/JPY with EUR/AUD being my favourite of the bunch and it and USD/CAD looking like they might be ready the soonest with USD/JPY looking like it could shape up shortly afterwards.

Whilst I was being taught to trade I was always taught to look for trading opportunities which “smack you in the face” and since I now trade professionally and I’ve backtested close to twenty five years worth of data since the 16th of August the only setup which “smacked” me “in the face last night whilst I was creating my Friday Forecast was the one which is potentially shaping up on USD/CHF . So the latter is all I have on watch today and below as always I’ve listed my entry requirements.

Have a great day and a great weekend folks and I’ll be back on Monday with another forecast.

USD/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 price only pushes up to and ideally just above our lower 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 our upper rayline 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.

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