EUR/USD
We went long yesterday with the bullish cs at the open, but exited at BE and reversed to short when we got the bearish cs formation. This bearish cs formation was stopped out during Asia for 50 pips.
We are still in the down AB swing on EUR. We are now at the 786 again, so if we get a bearish cs formation at current levels we will short, be weary of bullish cs formations before yesterdays support, since on the daily chart we are also rather bullish on this pair. We will consider long trades on dips into yesterdays support at 4132.
SHORT: Will be going short only IF:
We are at the 786 area, any bearish cs formation can be traded, but watch that its only a dip and that we might get a bullish cs formation targeting the A high.
Note that this is not in accordance with our system: since we should be selling and holding to the BF786, but since we have had price being supported by dips over the last few days we will exercise caution here when we sell.
LONG: Will be going long today only IF:
Price falls and then gives us a bullish cs formation. This should happen inside of yesterday’s lows. Trade this as a PT since we are creeping up all the time. The dailies support this as well.
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