EUR/USD - HOURLY CHART
The BF786 trade failed yesterday after the bearish cs formation and price rallied higher. We now have a new AB swing in play. We will be looking for either a failure at the BF786 or a rally higher.
SHORT: WILL ONLY BE GOING SHORT IF:
We get a bearish cs formation after hitting the BF786. Trade this for 50 pips since it’s a shallow bounce.
LONG: WILL ONLY BE GOING LONG TODAY IF:
We get a bullish cs formation after hitting the 618/786. The 618 entry will have a limit of 50 pips and the 786 will be a PT to the BF786.
We have an option to trade either of the long trades as a PT to 4700, since we have a BF786 on the daily chart telling us that price will be heading for 4730 over coming days.
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