Trading Plan 2 June 2015

By | June 2, 2015

The following are my views for the day ahead. I check the charts before the London session to get a feel for which direction the market may be moving. I then wait for triggers to setup in my planned direction. I usually don’t take all the trades. 

  1. GBPUSD, 4H outside bar, likely sideways or reverse up. Also at support 1.5166. To break lower, need sideways then very strong breakout retracement signal because L2 is at bottom of TR
  2. EURCAD, DB at 1.36. Probably move to TR high at 1.3725, pause and prep for breakout higher to 1.378
  3. EURUSD, expected to move lower (trend cont), Daily at top of exhaustion bar (Top of TR, with 3 weak bars to travel there). 4H outside bar. Should have sideways PB before continuing lower
  4. USDJPY Looking at daily bar, very strong, should continue higher to 125.55. There is a risk we could form a bear inside bar on daily. Need to watch PA carefully for clues
  5. USDCAD more likely up to 1.26 than form bear inside bar on daily. However, watch for bull 4H outside bar. Could see sideways or PB to 1.251 first before moving higher
  6. EURJPY could break higher, could also see bear inside bar on daily. watch PA
  7. GBPJPY, could break ytd high to 190.363, can also fail at TR high 189.75 and move lower to 188.3. Final target is still 186.25 (end of 3 push)
  8. AUDJPY POSS DB at 94.6 and break higher. could also break lower to 94.1.
  9. AUDUSD likely to break lower to 0.758 then maybe 0.7559
  10. EURAUD very strong on the weekly, likely to hit 1.465 by end of week. DB at 1.424, Could BO higher tmr, or form HL first, then BO
  11. GBPAUD D1 outside bar + next bar bear + wick, likely to move lower to 1.982
  12. GBPCAD, daily 2 leg PB + DB at 1.895. Should breakout of 1.91 and hit 1.915
  13. EURNZD, should break ytd low at 1.531 but not go very far below
  14. CADJPY, top of TR, more downside to 99.2. Unlikely to break higher cos of daily bear pin bar

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