EUR/USD – HOURLY CHART
We are still in the AB downswing since we took out the A low on Friday, price is currently at the 786 of the swing, if we get a bearish cs formation here we will short. The limit will be at the BF786 and it will be a PT. If price continues up and takes out the A high we will be reversing.
SHORT: WILL ONLY BE GOING SHORT IF:
We get a bearish cs formation at current levels since we already hit the 786. This will be a PT down to the BF786.
LONG: WILL ONLY BE GOING LONG TODAY IF:
We need price down at the BF786 and a bullish cs formation before we can look for long trades. Else price must take out the A high and reverse, give us a B, then wait for a pullback, still some time away if it happens.
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