EUR/USD
We got our bearish cs formation after the test of the BF786 but price reversed and stopped us out for 50 pips loss.
Price went rather sideways after our entry yesterday and eventually reversed and pushed through the B high continuing the uptrend on the hourly chart. We now have a new A down at 4320 but we need to wait for a B to form which is minimum 2 hours from now. Once we have a B we can draw fibs to identify the 618/786.
SHORT: Will be going short only IF:
No short trade opportunities since we don’t even have a B high yet. Will update later in the day if we get something according to our system, but highly unlikely.
LONG: Will be going long today only IF:
First we need a B to form, once we have that we need price to fall down to the 618/786 and give us a bullish cs formation. Trade the 618 for 50 pips and the 786 as a PT to the BF786.
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