EUR/USD
Price fell dramatically yesterday, falling past the D extension giving us a new AB swing. We have a small AB swing here as well with price falling further in Asia giving us that small swing. We have to wait for a B to form which is at least another hour away, maybe more.
SHORT: WILL ONLY BE GOING SHORT IF:
We first need the B to form to draw our fibs to determine where our 618/786 is. Once we have that we will wait for bearish cs formations after hitting the 618/786. The 618 will limit out at 50 pips, and the 786 will be a PT to the BF786.
LONG: WILL ONLY BE GOING LONG TODAY IF:
We need a B to form first, we can only trade once price hits the BF786 and we get a bullish cs formation. Doesn’t seem like this will happen today, since we don’t have a B formed yet.
Will update during the day if there is a trade setup on EUR.
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