USD/JPY on watch for me today.
USD/JPY:
• If price impulses down in a convincing manner below both our rayline and the lower ascending trend line of the corrective channel to the left 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 this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place this trade.
• If price impulses down in a convincing manner below both our rayline and the lower ascending trend line of the corrective channel to the left 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 this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place this trade.
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