EUR/USD – HOURLY CHART
We are still in the AB downswing since we took out the A low on Friday; as mentioned in the update yesterday, we closed our trade with a 4 pip loss because price made a bullish base at the previous days lows which told us that it was heading higher.re. We are still in the sell territory, and if we get a bearish cs formation inside the A boundary, that is inside the 4338 high, we must short that cs formation down to the BF786, it will be a PT. ONLY IF WE GET A BEARISH CS.
Long trades are only considered once the A high is broken, we have to wait for a B to form then pull fibs all over again – but that’s a few hours away.
SHORT: WILL ONLY BE GOING SHORT IF:
We get a bearish cs formation at current levels while we are inside the A high. 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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