Friday 15 July 2011

EUR/USD 15 JULY 2011


EUR/USD 1H CHART
We got our bearish cs formation on EUR/USD which gave us an entry at 4220, which we are still in. Limits are set at the BF786 below.

We are still in the bearish AB swing, price fell a bit yesterday as per our DA786 trading day, we are looking for another short entry today, until the BF786 is reached.

SHORT: Will be going short only IF:
We have a DA786 trading day today again where we expect price to continue down, we are looking for a small rally and a bearish cs formation telling us that price is continuing down today. Trade this entry as a PT down to the BF786.

LONG: Will be going long today only IF:
Price falls to the BF786 and then gives us a bullish cs formation, trade this as a PT to the A high since we would have already have had a 786.

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